A company is selling its used car to another company. what is applicability of VAT if the sale is from delhi to delhi and if the sale is from delhi to kolkata.
jaimin shah
(Finance Manager)
(111 Points)
Replied 07 March 2012
from delhi to delhi, vat for car rate will be applicable and for delhi to kolkata c.s.t rate for car may be 2% will be applicable if against c form otherwise delhi local vat rate will be charged as c.s.t
VIKAS KAPOOR
(FINANCE PROFESSIONAL)
(62 Points)
Replied 02 April 2012
fixed can't be sale on C Form. only the items covered in Sales Tax RC / meant for trading can be sold against C Form. On sale of any fixed assets VAT @ 12.5% will be charged on profit on sale of Fixed Assets. Also note that it will not be charged to the buyer , the seller has to bear the cost of the VAT.
Regards....VIKAS KAPOOR
Brajesh gautam
(student)
(232 Points)
Replied 03 April 2012
vikas ji
can you expalin the bold part " Also note that it will not be charged to the buyer , the seller has to bear the cost of the VAT." by an example.
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