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.
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
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