If assets are transferred to other country would VAT be applicable as it is not export?

If assets are transferred to other country would VAT be applicable as it is not export?
Actionable claims, money, stocks, shares and securities are not covered in the definition of goods vide section 2(xv) of the Bill. Export of taxable goods and services by registered persons is zero rated under VAT. Sections 12, 23 and 37 and Second Schedule
of the Bill may be seen to understand the statutory scheme of zero rating. In nutshell,
exports are not taxed under VAT. A person transferring his assets, other than taxable goods and services exported by a registered person, shall not attract VAT at the time of such transfer. However, no refund of VAT paid at any earlier stage of the acquisition of such assets shall be admissible.