VAT ON SALE OF CAR

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378 Points Posted on 14 January 2010
HI I JUST WANTED TO KNOW WHETHER ANY VAT IS PAYABLE ON SALE OF CAR BY A DEALER IN WHOSE BALANCE SHEET THE SAME(CAR) IS SHOWN AS A CAPITAL ASSET. REGARDS
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On 14 January 2010 at 15:29 Report
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Tax Advocate
427 Points Posted on 14 January 2010

Sale of car is taxable @ 12.5% vat under Karnataka VAT Act.

 

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On 14 January 2010 at 18:53

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