Clarification on liability of VAT

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..... Clarification on liability of VAT
Query (Issue) Started By: - Rahul Bagaria Dated:- 3-5-2009 Last Reply Date:- 22-2-2011 VAT + CST
Got 1 Reply
VAT / Sales Tax
My company is unregistered .....

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..... dealer in Haryana and we plan to sell our assets to a registered dealer without charging VAT.Subsequently we wan't to take the assets back on a monthly rental lease basis froom the company to whom we .....

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..... have sold the assets.I don't think we are required to take registration under VAT.I will charge NIL rate of tax and raise invoice.Also there should not be any liability on the leasing company for buyi .....

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..... ng the assets from unregistered dealer.Please clarify Reply By Rama Krishana: The Reply: Sale and purchase of assets are liable to VAT. However there is an exemption limit in each state. If you are .....

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..... within the exempiton limit, there is no need to take registration as well as no need to charge VAT at Nil rate as it is not required at all. But if the value of transactions are more than the exemptio .....

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..... n limits, you have to think again and would be required to pay VAT as per the local tax policies.
Discussion Forum - Knowledge Sharing .....

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