Sale of fixed assets like vehicle
This query is : Resolved
17 May 2017
if we are listed company and we are oil manufacturer and we sold vehicle not in ordinary couse od bussiness which was a fixed assets for us but sale on loss so why vat would attact becouse there is no value addistion by us and on what amount vat would be charged on slae consideration? vehicle is vatable in our state, please reply
CA AnKiT BoHrA (AB)
(Expert)
17 May 2017
i dont have idea regarding from which state you belongs.. but on sale of old vehicle in rajasthan there is a fixed vat amount that should be charged depending on their CC.
So you need to check VAT amount on sale of old vehicles in your state
So you need to check VAT amount on sale of old vehicles in your state
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