29 July 2009
my company has sold the used car and paid vat on it wheras i think it should not be paid. is the treatment correct.nature of co. is not sale or puchase of car.
03 August 2009
As per Kerala Value added tax,sale of used motor vehicle was Vatable. But this was omitted by the Kerala Finance ACT 2006 (ACT 22 of 2006) w.e.f 1/7/2006.
Your company went wrong by paying VAT as per the KVAT Act. Check with the local VAT rules of your state.
03 August 2009
As per Kerala Value added tax,sale of used motor vehicle was Vatable. But this was omitted by the Kerala Finance ACT 2006 (ACT 22 of 2006) w.e.f 1/7/2006.
Your company went wrong by paying VAT- as per the KVAT Act. Check with the local VAT rules of your state.
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