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Discussion > VAT >

MVAT on sale of used car

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STUDENT


[ Scorecard : 24]
Posted On 04 December 2009 at 15:17 Report Abuse

Hi,

Is VAT payable on sale of used motor car in Maharashtra? Note that the car is accounted as fixed asset in the books of company / firm. Does th company / firm need to issue a sale invoice to the buyer of used car?

Please reply at the earliest.

 

Regards,

Sejal


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CA Sunil Anwani
CA


[ Scorecard : 117]
Posted On 17 December 2009 at 19:03

Company has to Pay VAT @ 12.5% calculating as if they have collected tax & Their is no need to issue an invoice for Such Sale.




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