Commercial tax on plant and machineries
varsha bothra
(Querist) 24 September 2014
This query is : Resolved
Two Proprietary Industry having separate entity in MP are established in one Land , adjoining to each other , is now converted into partnership firm and plant and machineries of both the proprietary unit are introduced as capital contribution in the firm. MY QUERIES ARE : 1)Whether commercial tax officer can levy commercial tax on introduced capital contribution in the machineries considering it as transfer/sale if yes or no please give reason for that with supporting case laws? 2) Whether entry tax leviable on introduced capital contribution in the form of plant and machineries though there is no movement of machineries from one place to another , there is no inward of machineries in the local area ?If yes /no then please give reason with case laws
ABDUL RAZIQUE
(Expert) 25 September 2014
yes
for reason consult MP Commercial tax Act refrence book.
T. Kalaiselvan, Advocate
(Expert) 01 October 2014
Case laws are not supplied here, better have consultation with local tax consultant on further issues.
