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Vat liable to pay on second hand cars

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(Querist)
19 July 2014 Hi Sir,
we are into the manufacturing of Formulation of Cancer products.Actually we purchased second hand BMW car from individual person for our MD.later we sold the same to another person.
my point is are we liable to pay tax for that second hand car.
please advise me.
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CA UMESH DULAL

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CA UMESH DULAL (Expert)
19 July 2014 yes you have to pay vat on second hand car.
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Vishnu Saboo

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Vishnu Saboo (Expert)
19 July 2014 Yes tax is to be paid, tax is fix on pld cars @ 1% or maximum 2000/- in state like Gujarat.
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Vishnu Saboo

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Vishnu Saboo (Expert)
19 July 2014 Yes tax is to be paid, tax is fix on old cars @ 1% or maximum 2000/- in state like Gujarat.

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