sankar (Manager in Rank Silicon And Industries Pvt Ltd) (63 Points)
11 September 2011iam working in a manufacturing concern. our company recently sold some used vehicles. whether VAT is applicable on sale of used vehicles in ANDHRA PRADESH. we are not dealers of vehicles.
CS Bijoy
(Expert)
(6394 Points)
Replied 22 September 2011
It is case of Capital asset so capital gain tax can raise only if the consideration received more than the WDV of the asset.
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
CAclubindia
