Vat liable to pay on second hand cars
This query is : Resolved
Seetharami reddy
(Querist)
19 July 2014
Hi Sir,
we are into the manufacturing of Formulation of Cancer products.Actually we purchased second hand BMW car from individual person for our MD.later we sold the same to another person.
my point is are we liable to pay tax for that second hand car.
please advise me.
we are into the manufacturing of Formulation of Cancer products.Actually we purchased second hand BMW car from individual person for our MD.later we sold the same to another person.
my point is are we liable to pay tax for that second hand car.
please advise me.
CA UMESH DULAL
(Expert)
19 July 2014
yes you have to pay vat on second hand car.
Vishnu Saboo
(Expert)
19 July 2014
Yes tax is to be paid, tax is fix on pld cars @ 1% or maximum 2000/- in state like Gujarat.
Vishnu Saboo
(Expert)
19 July 2014
Yes tax is to be paid, tax is fix on old cars @ 1% or maximum 2000/- in state like Gujarat.
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