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Applicability of VAT on sale of Fixed Assets

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(Querist)
01 January 2011 If a compnay is selling its fixed asset whether vat will be applicable on such sale, particularly sale of motor vehicle.
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B R Ramesh

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B R Ramesh (Expert)
01 January 2011 Hi


VAT is applicable for second hand sale of machinery or motor car at the rate 4% or 5% as per the karnataka value added tax act 2003.

hence please check you are looking from which state ?
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Sandeep

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Sandeep (Querist)
02 January 2011 I am looking for the State of Gujrat
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