Monday, November 14, 2011

VAT on Used cars

VAT on Used cars

Is anyone aware of the VAT rules on transferring a car from Employer to employee?

I'm shifting jobs and suddenly the car transfer has become a headache.
My company is saying that they will charge 12.5% on the book value of the Car as VAT even though the VAT has already been paid once on the new car. Can someone confirm if this is correct?

Also, my car is MH01 and I stay in thane inside the octroi limits. My company is again forcing me to pay octroi because as per them, RTO requires the octroi receipt to transfer the car in my name. Is it so?

MOD: Don't know if this is the right thread. Move if needed.

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