transfer of car by one company to its sister concern
This query is : Resolved
29 May 2009
Dear All,
Suppose one company transfers a car to its sister concern, will the company need to charge sales tax or VAT on the transfer of that car.
Suppose one company transfers a car to its sister concern, will the company need to charge sales tax or VAT on the transfer of that car.
Ca.Manish Kulkarni
(Expert)
01 June 2009
If the sister concern having similar VAt Tin then It is not required.And If the sister Concern having Independent VAT Tin the company should Charge VAt on sale of Car.One more thing that VAt input credit is not available on the Car and hence it is not necessary to charge VAt on transfer of Car.
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