Chargiability of goodwill under vat

[deepak dubey]

Can goodwill chargeable under VAT

AI Summary

Goodwill Exempt from VAT: Only Tangible Goods Taxed, Not Intangible Assets Like Goodwill Under VAT Rules. A forum discussion addressed whether goodwill is chargeable under VAT. Two respondents clarified that VAT applies only to tangible goods or commodities and not to intangible assets like goodwill. One participant emphasized that goodwill is part of capital assets, and charging VAT on it would be akin to taxing capital itself. Both responses concluded that goodwill is not subject to VAT.