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Vat

(Querist) 18 September 2010 This query is : Resolved 
I am a regd dealer in Punjab and having a car in my books which is at least 6-7 years old. Now I want to sell this car. Now my querry is whether I have to pay vat on sale of car as I deal in business other than sale purchase of cars. If yes at what rate. I have to pay vat even if I have not claimed ITC on purchase of Car.
AMIT BAJAJ ADVOCATE (Expert) 18 September 2010
You dont need to pay vat on sale of car as its a sale of fixed asset
s.subramanian (Expert) 18 September 2010
I agree with Mr.Amit.
Jatinder Chugh (Querist) 18 September 2010
can anybody give me case law for non payment of vat on sale of car as deptt insists on payment of vat on sale of car
M.V.GIRI (Expert) 18 September 2010
You have to pay tax at the local rate on the sale of car as it is treated as part and parcel of total turnover. The Hon'ble High Court of Karnataka has given this judgement and in Karnataka State the sale of car by an assessee is liable to tax


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