HI FRIENDS
I WANT TO KNOW THAT WHETHER THE VAT APPLICABLE ON SALE OF OLD VEHICLE IN SERVICES SECTOR COMPANY
1 Replies
CA Thomas Raju Paravada
(Chartered Accountant)
(570 Points)
Replied 22 August 2008
The company is not in the business of Sale of Vehicles. More over the company claims depreciation on it. So the Value of sale shall be deducted from the block of assets.
Therefore the sales tax does not apply
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