SALE OF PREUSED MOTOR CAR
This query is : Resolved
19 May 2010
Respected All,
A company has sold pre-used motor car to an individual within the same state.
As per Schedule C Part I Serial No. 55C of West Bengal VAT Act, sale of preused motorcar is taxable at 4%.
The company and the individual both are not registered dealers in VAT.
How will the company make payment of VAT? Will it collect from the purchaser or pay on its own.
What are the forms and challans to be filled?
What is the rate of vat, i.e. is same exemption or deduction in the rate of 4% available?
Please help.
Thanks & regards,
Jyoti
A company has sold pre-used motor car to an individual within the same state.
As per Schedule C Part I Serial No. 55C of West Bengal VAT Act, sale of preused motorcar is taxable at 4%.
The company and the individual both are not registered dealers in VAT.
How will the company make payment of VAT? Will it collect from the purchaser or pay on its own.
What are the forms and challans to be filled?
What is the rate of vat, i.e. is same exemption or deduction in the rate of 4% available?
Please help.
Thanks & regards,
Jyoti
04 August 2010
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