Q. > Please Help: VAT LIABILITY ON CONTRIBUTION OF EXISTING CAPITAL GOODS
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309 views • Question added Sep 24, 2014 • VAT • By Vijay , CA


Two Proprietary concerns in MP forms a partnership firm & introduce their existing P & M in the new firm as their cap. Contribution Wether the above transaction is liable for VAT TAX OR ENTRY TAX

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MANISH JAIN

24-Sep-2014 , 10:42:46 am

As per thw Act entry tax is levied at the time of entry of goods into local area in the course of business. Here there is no movement of P&M therefore Entry tax should not be levied.

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ayushbhatia

25-Sep-2014 , 10:07:40 am

if proprietry transfer by partner ase capital contribute than no tranfer and no sale than no question of arise vat and no entry tax

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