vat on used machinery

This query is : Open

praful Jain (Querist)
Follow

16 March 2011 Pls let me know the rate of VAT applicable on sale of used machinery(like hydra mobile crain used for loading & unloading in transmission tower line business) in Maharashtra. is it 12.5% or 5%

also let me know what is the excise impect on same how to prepare invoice for same

your early reply will be highly solicited

Thanks & regards

prasad

prasad (Expert)
Follow

16 March 2011 Yes. Under MVAT Act, you will have to charge 12.5% vat on used machinery Schedule Entry E-1.