https://www.taxtmi.com/forum/issue?id=111397 VAT applies when a company transfers a used computer to an employee and had not claimed input tax credit; the transfer is treated as a taxable sale under the VAT schedule, requiring remittance of tax based on the invoice value and payment of applicable interest if tax was omitted. Availability of input tax credit depends on prior accounting treatment and whether the purchase relates to the vendor's taxable activity, and requires checking statutory definitions and schedule classification. en-us Sat, 21 Jan 2017 17:19:34 +0530 Thu, 23 Jan 2025 15:56:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=111397 VAT applies when a company transfers a used computer to an employee and had not claimed input tax credit; the transfer is treated as a taxable sale under the VAT schedule, requiring remittance of tax based on the invoice value and payment of applicable interest if tax was omitted. Availability of input tax credit depends on prior accounting treatment and whether the purchase relates to the vendor's taxable activity, and requires checking statutory definitions and schedule classification. Discussion-Forum VAT / Sales Tax Sat, 21 Jan 2017 17:19:34 +0530 https://www.taxtmi.com/forum/issue?id=111397