MVAT on sale of used car

5824 views 1 replies
User Avatar

STUDENT
24 Points Joined January 2009

Hi,

Is VAT payable on sale of used motor car in Maharashtra? Note that the car is accounted as fixed asset in the books of company / firm. Does th company / firm need to issue a sale invoice to the buyer of used car?

Please reply at the earliest.

 

Regards,

Sejal

Reply Share Follow
On 04 December 2009 at 15:17 Report
Replies (1)
User Avatar

CA
117 Points Joined March 2009

Company has to Pay VAT @ 12.5% calculating as if they have collected tax & Their is no need to issue an invoice for Such Sale.

Reply
On 17 December 2009 at 19:03

Summarize this with AI
ChatGPT Perplexity Claude Google AI Grok

CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading