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Vat on sales of second hand car

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Querist : Anonymous

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Querist : Anonymous (Querist)
08 March 2017 Company purchased a motor car during 2014 for Rs.350000. After using it for company purpose sold the same for Rs.100000. How much VAT as per TNVAT Act, is to be remitted, on the sale car?
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
08 March 2017 Vat on second hand vehicle will be 5.5%.

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