rate of tax
This query is : Resolved
05 February 2011
Sir
One of the car dealers in kerala, sold their test drive vehicle in the year 2006-2007. The sales tax athourity had imposed 4% tax on the sale amount of the vehicle. As i am aware, for secondary sold vehicle the tax rate is 0.5%. When conveyed to the sales tax athourity they had informed the tax for sale of secondary used vehicle was 4% in the year 2006-2007.
May i know is it right?
One of the car dealers in kerala, sold their test drive vehicle in the year 2006-2007. The sales tax athourity had imposed 4% tax on the sale amount of the vehicle. As i am aware, for secondary sold vehicle the tax rate is 0.5%. When conveyed to the sales tax athourity they had informed the tax for sale of secondary used vehicle was 4% in the year 2006-2007.
May i know is it right?
05 February 2011
Rate is 4 % under the head 'used motor vehicles' in the then schedule III, item 136 and subsequently omitted by Finance Act,2008 w.e.f 1/4/2008 by virtue of the insertion of the proviso to section 6(1) of the KVAT Act,2003.
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