EASYOFFICE
EASYOFFICE

Sale of Motor Car owned by Company

This query is : Resolved 
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(Querist)
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
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Vipul J. Bhavsar

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Vipul J. Bhavsar (Expert)
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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