Plz tell me is Vat aplicable on sale of car by an individual ?
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Vat on sale of car by an individual
Replies (9)
No, If Sale by Businesss entity Then Applicable.
NO NOT APPLICABLE
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????
Yes Then Applicable. Straight.
Thank U!!!!!
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.
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.
Do Mharashtra state have this type of transaction taxable????
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