Clarification on liability of VAT

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....larification on liability of VAT<br> Query (Issue) Started By: - Rahul Bagaria Dated:- 3-5-2009 Last Reply Date:- 22-2-2011 VAT + CST<br>Got 1 Reply<br>VAT / Sales Tax<br>My company is unregistered d....

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....ealer in Haryana and we plan to sell our assets to a registered dealer without charging VAT.Subsequently we wan't to take the assets back on a monthly rental lease basis froom the company to whom we h....

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....ave sold the assets.I don't think we are required to take registration under VAT.I will charge NIL rate of tax and raise invoice.Also there should not be any liability on the leasing company for buyin....

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....g the assets from unregistered dealer.Please clarify Reply By Rama Krishana: The Reply: Sale and purchase of assets are liable to VAT. However there is an exemption limit in each state. If you are w....

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....ithin the exempiton limit, there is no need to take registration as well as no need to charge VAT at Nil rate as it is not required at all. But if the value of transactions are more than the exemption....

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.... limits, you have to think again and would be required to pay VAT as per the local tax policies.<br> Discussion Forum - Knowledge Sharing ....