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
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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