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2 hand vehicle purchase for business

25 March 2023

What and whom's documents required, if an LLP needs to purchase second had 2 wheeler by NEFT from business bank account? What documents will be required from vendor if he won't be providing GST original invoice and on who's name name vehicle has to be registered and get the licence.If a one parter is a foreigner and another is sleeping parter? Can we get the vehicle license and documents on the name of any employee?

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Sanjay (hhgh) (0 Points)
Replied 25 March 2023

If an LLP needs to purchase a second-hand two-wheeler by NEFT from their business bank account, they will need to obtain certain documents from the vendor to complete the purchase and register the vehicle. These documents include:

Sale agreement: A sale agreement between the LLP and the vendor will be required to document the transaction.
Transfer of ownership: The vendor should provide the original RC book and other necessary documents, such as a no-objection certificate, to transfer the ownership of the vehicle to the LLP.
Identification proof: The vendor should provide a copy of their identification proof, such as an Aadhaar card or PAN card.

Regarding the GST invoice, if the vendor is not providing the original GST invoice, the LLP should obtain a copy of the invoice, along with a declaration from the vendor stating that the vehicle has been sold to the LLP and that the GST has been paid on the sale.

The vehicle should be registered and licensed in the name of the LLP. The LLP should provide the necessary documents, such as the sale agreement and RC book, along with the application for registration and licensing to the RTO.

In the case where one partner is a foreigner and another is a sleeping partner, the LLP can still get the vehicle registered and licensed in the name of the LLP. However, if the LLP is facing any issues related to registration and licensing, they can appoint an employee as the owner of the vehicle, with the necessary authorization.

In summary, to purchase a second-hand two-wheeler by NEFT from their business bank account, the LLP will need a sale agreement, transfer of ownership documents, identification proof, and a copy of the GST invoice or declaration from the vendor. The vehicle should be registered and licensed in the name of the LLP, and in case of any issues, an employee can be appointed as the owner with necessary authorization.