Sale of fixed asset
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 February 2013
My company is a software development company based in delhi.
We have a Car registered on e name of the company. We want to sell the car in Delhi?
Now i want to know that what are the implications under DVAT for the above transaction ?
Kindly reply as soon as possible ?
We have a Car registered on e name of the company. We want to sell the car in Delhi?
Now i want to know that what are the implications under DVAT for the above transaction ?
Kindly reply as soon as possible ?
20 February 2013
Should the sale of car be one of a transaction other than your regular business trading i am of the view that VAT shall not be applicable as the same is not in the course of business. You may refer to Cineplex India Pvt Ltd. case Karnataka Highcourt and Kwality Biscuits P Ltd. Karnataka High Court
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