Poonawalla fincorps
Poonawalla fincorps

vat

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 June 2010 If I purchase a car ( In Mumbai ) , I will pay Vat @12.5% . But I do not get any Setoff on that . Now if I sell the same car within a month , then once again I have to charge Vat @ 12.5%.
Then even if I sell the car for the same amount ( Price) at which I purchased , I will be loosing Vat amount.
Whether My understaning is coorect or is therte any provision for not charging vat when i sell the car with in a month ?

Please advice me
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Vishnu Saboo

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Vishnu Saboo (Expert)
28 June 2010 is your bussiness of car purchasing and selling?
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Querist : Anonymous

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Querist : Anonymous (Querist)
29 June 2010 No . we are not dealer in Car.
We ar into export and import of chemicals
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