Vat on sales of second hand car
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 March 2017
Company purchased a motor car during 2014 for Rs.350000. After using it for company purpose sold the same for Rs.100000. How much VAT as per TNVAT Act, is to be remitted, on the sale car?
08 March 2017
Vat on second hand vehicle will be 5.5%.
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