i have one client who provides services of insurance ,reinsurance and towing of vehicles by tieing up with other agency .recently they are planning to purchase specialized towing equipment and providing them to service providers . and after 2 years once they pay all the amount it will be their ownership on vehicle .
my question is whether at the time of sale or at teh time of last instale ment ,should we collect vat ? if yes we require registration ? and what is the rate for towing vehicles ?
CAclubindia
