TaxTMI 
TaxTMI 
Hi,
Client dealing in Sale of Re-possessed Vehicle.So,we want know VAT Rate for Sale of Re-possessed Vehicle or second sale.and they deals in all india.
Kindly advice on the same.
VAT Rate for Sale Re-possessed Vehicle
07 Aug 2013 
2 Replies 
1599 Views Asked by
VAT rate for re possessed vehicles: consult state VAT schedules; otherwise the residuary peak tax rate applies nationwide.
If a State tax schedule or notification does not specify a rate for sales of re possessed or second hand motor vehicles, those sales fall under the residuary tax category and attract the peak residuary rate; however, several States prescribe lower VAT rates for used motor vehicles by schedule or notification, so the applicable State VAT schedule must be checked to determine the correct rate. (AI Summary)
If a State tax schedule or notification does not specify a rate for sales of re possessed or second hand motor vehicles, those sales fall under the residuary tax category and attract the peak residuary rate; however, several States prescribe lower VAT rates for used motor vehicles by schedule or notification, so the applicable State VAT schedule must be checked to determine the correct rate. (AI Summary)