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Old 9th October 2013, 15:47   #31
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Default Re: Anyone "ever" got any Road Tax Refund ?

Please continue this discussion in
http://www.team-bhp.com/forum/indian...efund-etc.html (Moving a car between States - Road tax, refund etc.)

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Old 14th March 2014, 00:14   #32
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Default Buying a New car on Company Name

Hello,

As far as I know about taxes, when we buy any assets/goods on a VAT invoice, the tax paid on the purchase is refundable. Means, the tax I already paid in buying goods for the purpose of my business, will be deducted from my total Sales Tax/VAT in any given quarter.

I am sure it does apply to the personal cars as well.

But apart from getting tax rebates or benefits, what other pros/cons are there when buying car on Company's name?

Does it affect resale value or anything?
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Old 14th March 2014, 00:30   #33
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Default Re: Buying a New car on Company Name

Quote:
Originally Posted by ThE Godfather View Post
Hello,

As far as I know about taxes, when we buy any assets/goods on a VAT invoice, the tax paid on the purchase is refundable. Means, the tax I already paid in buying goods for the purpose of my business, will be deducted from my total Sales Tax/VAT in any given quarter.

I am sure it does apply to the personal cars as well.

But apart from getting tax rebates or benefits, what other pros/cons are there when buying car on Company's name?

Does it affect resale value or anything?
In addition to the tax paid on fuel/maintenance, I guess depreciation benefits you can claim would be a good factor.
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Old 14th March 2014, 08:20   #34
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Default Re: Buying a New car on Company Name

I found an interesting link on Gujarat sales taxes. It clearly states that VAT on cars or fuel is not allowed for setoff unless it is purchased for resale. Other states may have different rules, though.

http://www.commercialtax.gujarat.gov...p?viewPageNo=4
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Old 24th March 2014, 18:02   #35
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Just saw a TV flash news. Supreme court directed to refund VAT collected on one time tax which is about 1000 Crores.
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