https://www.taxtmi.com/forum/issue?id=1143 Liability of VAT arises on sale and purchase of assets and on subsequent leaseback; such transactions are taxable unless they fall within state-specific exemption limits. If within exemption limits, registration and charging of VAT are not required; if transactions exceed the exemption threshold, registration and VAT obligations under local tax policy apply. en-us Sun, 03 May 2009 18:45:40 +0530 Thu, 23 Jan 2025 15:58:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=1143 Liability of VAT arises on sale and purchase of assets and on subsequent leaseback; such transactions are taxable unless they fall within state-specific exemption limits. If within exemption limits, registration and charging of VAT are not required; if transactions exceed the exemption threshold, registration and VAT obligations under local tax policy apply. Discussion-Forum VAT / Sales Tax Sun, 03 May 2009 18:45:40 +0530 https://www.taxtmi.com/forum/issue?id=1143