rate of tax

Save Share

This query is : Resolved

Soorej (Querist)
Follow

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?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

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.

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now