Sale of Motor Car owned by Company
This query is : Resolved
28 April 2009
Dear Sir
Kindly let me know whether the company should charge VAT on sale of Motor car owned by it? If yes at what rate under which clause.
The company is not involved in the business of selling of car it is in real estate business. The car has been classified under Fixed Assets
The sale is happening in Karnataka and also between the group companies
Regards
Hemanth
Kindly let me know whether the company should charge VAT on sale of Motor car owned by it? If yes at what rate under which clause.
The company is not involved in the business of selling of car it is in real estate business. The car has been classified under Fixed Assets
The sale is happening in Karnataka and also between the group companies
Regards
Hemanth
28 April 2009
No question arises for payment of VAT as the company is not involved in the business of Production or trade of vehicle/cars.
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