banner_ad

Vat on sales of fixed asstes

DVat 10115 views 8 replies

A registered dealer in Delhi sale their car (fixed asstes) on Rs. 250000.00. I want to know whether VAT is applicable or he have to pay any tax on this sale. If yes, then what is the amount and section as per Act.

Kindly do the needful.

Replies (8)

I think VAT is applicable on sale of Fixed asset. Rate and section i cant tell because VAT differs from state to state. I m telling the position prevailing in my state.

Vat applicable 12.5% in sale of car

Vat is applicable @ 12.5% on sale of asset within maharashtra.

And net amount  X  will be 250000 * 100 / 112.5 and 

Vat Amt  Y  = X * 12.5%

Total Amount  X + Y = 2,50,000

VAT is Not applicable on sale of Fixed Assets held for the use of Business Purpose........VAT is not applicable in the State of Andhra Pradesh.

if it is a second hand car then VAT is not applicable(according to my knowledge). because VAT is value added tax and so it is payable only if any additional features are installed in the car unless no need of VAT.......... 

 

Vat is not applicable on sale of Fixed Assets.

Vat is also applicable on sales of second hand asset.

Vat is applicable on the sale of Fixed assets whether it is a car or any other machine use in a Business or purchase in the name of firm/company etc. Vat rates can be differ by States. so see your Vat Shedule.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details