Regarding vat chargeable or not.
This query is : Resolved
raj Sharma
(Querist)
22 November 2014
sir. mere friend ko ak bank ne car purchase kr ke office use k lea dee thi. kuch time pahle 2yr back but ab mera friend vanha se resign kr k jaa raha he or bank se vo bol raha k ye car m purchase kr naaa chahata huu. bank vo car mere friend ko sale bhee kr raha he but bank ye bol raha he kii aap ko IS PR VAT BHEE DENA PADEGA .sir jab bank ne vo car dealer se buy kii hogi to vo to already VAt pay kr chukaa hoga to kya ab mere friend ko vat pay krna he agar haa to kyu or naahi to kaise please sir reply n car ki koi bhee value assume kr skte he pahle or ab k lea as example ....
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Neljo Davis ACA
(Expert)
24 November 2014
VAT is applicable in the case of second sale also. If the bank is all-ready having VAT Registration, bank should remit the VAT at the applicable rate on the sale value and the same can be collected from the buyer.
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