VAT Rate for Sale Re-possessed Vehicle, VAT + CST

[sachin kuchekar]

Hi,

 

Client dealing in  Sale of Re-possessed Vehicle.So,we want know VAT Rate for Sale of  Re-possessed Vehicle or second sale.and they deals in all india.

 

Kindly advice on the same.

Posts / Replies

[Pradeep Khatri]

If the tax rate has not been specifically mentioned in the Tax Schedule then it may fall under residuary list and hence peak rate of tax will be applicable.

Kindly check the State Specific Tax Schedule in this regard.

[Ramanujam Varadarajan]

In number of States, used motor vehicles are subject to lower rate of 4% or 5%, under VAT Schedule / notification, though motor vehicle are coming under residual rate.  You may refer VAT Schedule / notification of relevant States.