Harpreet
(* * * * * *)
(1670 Points)
Replied 03 August 2010
Yes, VAT applicable on used car even any fixed assets.
Wait for another reply on the same as presently i do not have circular & notification and on which type of assessee the same is applicable ???
obeid
(learner)
(292 Points)
Replied 08 August 2010
I don't know for which state you are concerned If your business is the same then u have to pay VAT as per TNVAT act . All registered dealers whose T.O is above the limit prescribed (10 Lakhs p.a)under the act have to pay VAT.
Gagan Agarwal
(Manager)
(207 Points)
Replied 25 August 2010
If the company is exclusively dealing in used cars, then there are composition schemes available (need to know which state you are referring to)
In any case, vat is applicable on sale of any goods (whether new or used) if exemption limit of turnover is breached.
Ravi Prasad
(Self employed)
(148 Points)
Replied 24 September 2010
In Karnataka, USed cars are taxed at 4% by way of Notification
L. THIYAGARAJAN
(PROPRIETOR)
(21 Points)
Replied 05 February 2014
Hai
A dealer sell used car. He is a TNVAT dealer. He is compoulsary pay the Vat? which schedule. ple guid me
CAclubindia
