Vat liability under karnataka vat

Rupa Agarwal (Service) (137 Points)

25 March 2014  

Dear friends,

I have an urgent query.

What is the tax implication under Karnataka VAT on one time sale transaction by an individual for sale of depreciable assets (owned since 2010-11) at Rs 700000/-? to a private limited company.

Eagerly waiting for your inputs.

Thanks & Regards,

Rupa.