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TMI BlogClarification on liability of VATX X X X Extracts X X X X X X X X Extracts X X X X ..... My company is unregistered 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 fr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oom the company to whom we 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 t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he leasing company for buying 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 l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... imit in each state. If you are 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 transact ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ions are more than the exemption limits, you have to think again and would be required to pay VAT as per the local tax policies. - Clarification on liability of VAT - Query Started By: - Rahul Bagar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ia Dated:- 3-5-2009 Value Added Tax - VAT-CST - Got 1 Reply - VAT and Sales Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagemen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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