Clarification
This query is : Resolved
22 August 2008
SIR
I WANT TO KNOW THAT "WHETHER THE VAT APPLICABLE ON SALE OF OLD VEHICLE" IN SERVICES SECTOR COMPANY.
MY CA HAS SAID THAT VAT WILL BE APPLICABLE ON SALE OF OLD VEHICLE. HOWEVER THE COMPANY DID NOT CHARGE THE VAT ON SALE OF OLD VEHICLES AS YET.
Answer Is Yes
Vat Is To be Charged.
If The Co. Has Sold The Vehicle Without Charging VAT Then The Selling Price Would Be Considered As Inclusive Of VAT.
I WANT TO KNOW THAT "WHETHER THE VAT APPLICABLE ON SALE OF OLD VEHICLE" IN SERVICES SECTOR COMPANY.
MY CA HAS SAID THAT VAT WILL BE APPLICABLE ON SALE OF OLD VEHICLE. HOWEVER THE COMPANY DID NOT CHARGE THE VAT ON SALE OF OLD VEHICLES AS YET.
Answer Is Yes
Vat Is To be Charged.
If The Co. Has Sold The Vehicle Without Charging VAT Then The Selling Price Would Be Considered As Inclusive Of VAT.
22 August 2008
If Selling of Old Vehicle is not my Bussiness.. and it is incidental.. why should i charge VAT
22 August 2008
Mr. Nitin Wadhwani
can you justify your answer with any reference
I Say it doesn't comes under the meaning of goods
can you justify your answer with any reference
I Say it doesn't comes under the meaning of goods
22 August 2008
Just Read The Definition Of "Goods" and "Business".
22 August 2008
Definition Of "Goods" and "Business" in MVAT Act is Nothing But A Reference Only.
25 August 2008
Normally VAT shall not be chargeable on sale of old vehicle. But Department sometimes insiist on it. In case of cars, especially, CAr is purchased originally paying VAT On it. Bu very concept of VAT, VAT shall be charged on addition in Value. But in these cases, value shall be always reduced. and therfore under the reverse VAT Machanism, VAT shal not be payable. I have won my own case on these grounds.
26 August 2008
Can U Plz Provide A Copy Of That Case.
01 July 2009
Yes.
VAT is chargeable.
VAT is chargeable.
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