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Purchase of company leased car

Sriram Moorthy

what is the rate of VAT applicable for purchase of company leased car in Karnataka. The car under consideration is less than 1 year old (Jan 2015). The company under consideration is in the IT space and not in the automobile business

VAT Rate Inquiry for Purchasing a Company-Leased Car Less Than One Year Old by IT Sector Employee An individual inquired about the applicable VAT rate for purchasing a company-leased car in Karnataka. The car in question is less than one year old, having been acquired in January 2015. The company involved operates in the IT sector, not in the automobile industry. (AI Summary)
VAT + CST
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