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Issue ID : 1058
- 0 -

Vat impact - Capital asset without any profit

Date 17 Mar 2009
Replies1 Answers
Views 1028 Views
Asked By

As an unregistered dealer in states of Punjab & Haryana if any sale is mamdeof Capital assets without any profit, what will be the tax impact from VAT point of view.DO the company needs to register it sellf and pay taxes if any

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Replied on Mar 18, 2009
1. Sale of goods is subject to VAT. Profit motive or no profit motive does not alter the siutation. Even a chartiable institution would be liable to pay vat if engaged in trading activity.

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