sir i have purchased new car of rs . ten lakhs in my name and i use it for business and claim depreciation. i have sold my old car for four lakhs i used it for business and claimed depreciation.
am i suppose to pay vat on old car.

if yes, at what percentage should i pay vat?

pls. reply.

regards
girish shah

reply at gsshah21@yahoo.com

sir thanks for your reply,
i would like to clarify that I have partner ship firm, the new car bought by me is in my personal name, but i have put that car in balance sheet & i take the benefit of depreciation of car in my firm & i have not claimed any set off in vat in my firm. and i used to do this same thing for the old car sold by me at rs. four lakhs.
now please suggest to me
am i suppose to pay vat on old car?

if yes, at what percentage should i pay vat?

pls. reply.

regards
girish shah

reply at gsshah21@yahoo.com

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