VAT ON SALE OF CAR

This query is : Resolved

pritesh (Querist)
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16 December 2009 DEAR FRIENDS,
CAN VAT LIABLE ON SALES OF A CAR TO A DEALER WHO IS REGD UNDER MVAT ACT ?
1) IF YES, ON WHICH AMOUNT LIABLITY ATTRACT i.e., SALE VALUE, PROFIT ON SALE OF CAR
2) UNDER WHICH SECTION IT IS APPLICABLE ?

PL. GIVE UR VALUABLE SUGGESION IN THIS MATTER

THANKING YOU,
pritu_chandiwal@rediffmail.com

Amit Sheode

Amit Sheode (Expert)
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17 December 2009 dear pritu,
Kindly remember the basic principle that VAT is a tax on sale of goods. Hence the levy is on the basic charging section i.e. Sec 6 of MVAT Act.
Since the tax is on sale the tax is payable on sale value actually received/ receivable

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