MVAT on sale of used car



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

 
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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.

 
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