Go Back   Team-BHP > BHP India > The Indian Car Scene


Reply
 
Thread Tools Search this Thread
Old 18th January 2007, 20:35   #1
VMG
BHPian
 
VMG's Avatar
 
Join Date: Jun 2004
Location: Chennai
Posts: 319
Thanked: 19 Times
Default VAT in Chennai.

Is the second sales applicable for VAT?
I bought a car thru my company ( deducation from my salary and car is on the company name) in 2004. After 3 years, I can buy the car if I want. Since the 3 years is completed, I would like to buy the car and pay the difference to the company. My compnay is adding VAT after the depriciation value of the car. I have to pay around 40K for this. SInce I paid the ST initialy, Do I have to pay VAT now. But only catch is Car is in the company name now.

Thanks
VMG is offline   Reply With Quote
Old 18th January 2007, 23:36   #2
BHPian
 
sreedotk's Avatar
 
Join Date: Dec 2006
Location: Chennai
Posts: 215
Thanked: 22 Times
Default

Quote:
Originally Posted by VMG View Post
Is the second sales applicable for VAT?
I bought a car thru my company ( deducation from my salary and car is on the company name) in 2004. After 3 years, I can buy the car if I want. Since the 3 years is completed, I would like to buy the car and pay the difference to the company. My compnay is adding VAT after the depriciation value of the car. I have to pay around 40K for this. SInce I paid the ST initialy, Do I have to pay VAT now. But only catch is Car is in the company name now.

Thanks
I don't know how much this can help, as i was hunting for cars in chennai i came across a car i liked and was trying to fix the price (at a used car dealer) and he mentioned that there is a 12 or 13 % tax on the valuation of the car. As i was not sure i walked away

The car dealer was an automart so i am sure that he would have had to bill me , there are a lot of uncertainities regarding the vat in Chennai
sreedotk is online now   Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
VAT and service tax on property/flat neoonwheels Shifting gears 11 8th November 2012 10:47
VAT increase in Jan to 20% ?? dhall_gagan The Indian Car Scene 15 22nd December 2009 18:53
VAT on new cars caliper The Indian Car Scene 3 5th August 2007 13:40
Hyundai slashes prices in TN- VAT Effect Surprise The Indian Car Scene 11 12th January 2007 11:26


All times are GMT +5.5. The time now is 12:38.

Copyright 2000 - 2017, Team-BHP.com
Proudly powered by E2E Networks