Dear Sir,
Please tell me if a dealer sells his personal car is it covered under DVAT because dealer is showing that car in its combine balance sheet and claming depreciation regularlry . The Joint Commissioner has given refrence of decision of Hon'ble Supremecourt in the case of The State of the Tamil Nadu Vs. Board of Trustees of the port of Madras(1999) 114 STC 550(SC). and charging liability of DVAT @ 12.5% with interest though the Business of the assesse is trading of T.V. Remote.
CAclubindia
