Vat applicability on used truck sale
This query is : Resolved
RASHEED N SAMPAGAON
(Querist)
27 March 2016
A normal dealer of Karnataka State who is using the truck for his business for carrying goods sold after three years of purchase and at the time of purchase he is not taken any input credit whether he is liable for VAT on used truck sale.
Murtaza I Bhagat
(Expert)
27 March 2016
Yes, if truck is used for business purpose then you have calculate vat payable on sales price.
RASHEED N SAMPAGAON
(Querist)
28 March 2016
Dear sir, please give citation (Case laws or Notiification) how it is taxable when input tax credit not taken, and is not not cascading effect and what is value addition in this case in order to atrract tax, what is tax rate.
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