TNVAT on Scrapping of Vehicle
This query is : Open
15 June 2009
Dear experts,
If a company ABC Ltd sells a Vehicle (their Fixed Asset), will VAT be applicable on that sale? Please explain me in this regard.Will the Sale be treated as a sale of scrap?
Thanking you,
Vyshak
If a company ABC Ltd sells a Vehicle (their Fixed Asset), will VAT be applicable on that sale? Please explain me in this regard.Will the Sale be treated as a sale of scrap?
Thanking you,
Vyshak
17 June 2009
If it is really a scrap then it can be sold as iron & steel scrpa @ 4% on the sale price.
17 June 2009
Dear experts,
If a company ABC Ltd sells a Vehicle (their Fixed Asset), will VAT be applicable on that sale? Please explain me in this regard.Will the Sale be treated as a sale of scrap?
Thanking you,
Vyshak
If a company ABC Ltd sells a Vehicle (their Fixed Asset), will VAT be applicable on that sale? Please explain me in this regard.Will the Sale be treated as a sale of scrap?
Thanking you,
Vyshak
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