Sale of second hand car by a BPO company.

Venkat Rao Marella (Querist) 19 September 2008 This query is : Resolved
Dear All,

Please clarify if VAT is applicable in case of sale of a car owned by a BPO company.
The company is based in Andhra Pradesh.
The vehicle is owned by the company and is being used by the company. Now the company has identified a buyer who is quoting a better price and descided to sell the vehicle.

My query: is VAT applicable on this sale?
If so at what rate?

Request you to please clarify.
Venkat.

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Guest (Expert) 19 September 2008
Yes VAT is to be paid. Rate with the local CA. In many states there are notifications reducing it from 12.5 to 4% check locally.

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