Exemption limit for the vat applicability intellectual property

hdshardik (Querist) 18 September 2013 This query is : Resolved
Is vat applicable by which rate and how much it is exempted from the applicability of vat?

For payment of consideration of Rs 21000/- for using the intellectual property in copyright form from the author who is running the Private Ltd , wnats to levy the vat @5% on 210,000/- , is it valid from the sales tax in Maharashtra? kindly provide the supporting?

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ajay sethi (Expert) 19 September 2013
consult your tax consultant

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