sale of machine tax will levied or not????

[Riftaj]

hi dears

ager hum apny machine sale karny takreeban us ket sale price 5 lack ha after 5 year at the time of sale its price is 5 lac kia hum is per sale tax la ga output tax?????????????

Rifi

[accounty]

Subsection (39) of section 02 define ‘taxable goods’ as all goods other than those which have been exempted under section 13; (as defined in Sixth Schedule ).

Therefore you have to charge 16% sales tax as per section 3(1), on book value (Original cost – Accumulated Depreciation) of your assets at the time of sales

[Anfal Shabbir]

sales tax n machinery is exempt, therefore no output tax should be charged, make zero rated invoice to record this sale

[Riftaj]

thanks dear

but jub hum na purchase kee the input tax lia that during year,, ab kis possible ha jub hum sale kar ray ha isy output tax na la??????

Rifi

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by Anfal Shabbir</i>
<br />sales tax n machinery is exempt, therefore no output tax should be charged, make zero rated invoice to record this sale
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">

[Anfal Shabbir]

i think in this case u have to charge output tax, but i am not sure, i will tell u after some time