Auction of cars by bank - whether the disposal at an auction by ...

Bank's Auction of Repossessed Cars Ruled as 'Sale' Under VAT and Sales Tax Laws, Subject to Taxation.

May 8, 2019

Case Laws     VAT and Sales Tax     HC

Auction of cars by bank - whether the disposal at an auction by the bank of cars that have been hypothecated with it and later repossessed on default of repayment of the loan, is a ‘sale’? - Prima facie case is against the assessee bank.

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