vat liability on import license sale

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is vat chargeable on sale of import license ?

AI Summary

VAT Applies to Sale of Import Licenses Under Chapter 3 of Foreign Trade Policy; Review Tax Schedule for Details. A query was raised regarding the applicability of VAT on the sale of import licenses. The response clarified that licenses or scrips obtained under Chapter 3 of the Foreign Trade Policy, when sold in the open market, are subject to VAT or CST, depending on the case. It was advised to review the tax schedule under VAT laws for further details.