Plz tell me is Vat aplicable on sale of car by an individual ?
CA AYUSH AGRAWAL
(Kolkata-Pune-Mumbai)
(26986 Points)
Replied 01 November 2012
No, If Sale by Businesss entity Then Applicable.
BHAKTI
(Student)
(56 Points)
Replied 01 November 2012
our client registered dealer under MVAT and he is also liable to VAT Audit and he has a proprietory business.So is the VAT aplicable????
CA AYUSH AGRAWAL
(Kolkata-Pune-Mumbai)
(26986 Points)
Replied 01 November 2012
Yes Then Applicable. Straight.
Harshal Fifadra
(Chartered Accountant)
(1489 Points)
Replied 01 November 2012
ARUNKALIA
(C.A FINAL)
(28 Points)
Replied 02 November 2012
vat applicabe only on product in which business entity deals not on all products.
Ans to ouestion that if they deals in car then vat rate will be charge otherwise it will be taxable under short term capital gain if profit earned on sale of car.
CA AYUSH AGRAWAL
(Kolkata-Pune-Mumbai)
(26986 Points)
Replied 02 November 2012
VAT Will be Charged on Even Second Hand Sale of Vehicles, Whether They Deal or Not.
Also Depend on Sate Wise Act, But Generally Most of The States Have The Same Chargeability.
CA Mamata Mathkar
(-)
(30 Points)
Replied 02 November 2012
Do Mharashtra state have this type of transaction taxable????
CAclubindia
