TNVAT on Scrapping of Vehicle

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vyshak (Querist)
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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

Madhukar N Hiregange

Madhukar N Hiregange (Expert)
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17 June 2009 If it is really a scrap then it can be sold as iron & steel scrpa @ 4% on the sale price.

vyshak

vyshak (Querist)
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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

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