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+--- Thread: Sales Tax on Asset Lease Back (/thread-sales-tax-on-asset-lease-back)
Sales Tax on Asset Lease Back - saqibsat - 02-16-2010
We are going to Sale & Lease Back our asset with a Leasing company for financing purpose. We bought asset A from Govt Org and Asset B from local manufacturer, At the time of purchase, no sales tax was charged by Govt org on Asset A whereas on Asset B @16% was charged..
Currently, we are going to incorporate a transaction in which we will Sale our Asset A & B to Leasing Company and Lease back the Same (Financial Lease)immidiately.
Now, whether we will pay/ Charge on Sales tax on this transaction or not.
Please let me have a value able direction regarding charging of Sale Tax against this transaction.