https://www.taxtmi.com/forum/issue?id=106318 Whether proceeds from sale of company owned vehicles purchased for use and not held as stock in trade fall within taxable turnover depends on whether such disposals are "in connection with, or incidental or ancillary to" the principal business; mere receipt of sale proceeds or previous payment of tax at purchase does not alone convert disposals of used capital items into taxable trading activity, and strict construction of taxing statutes requires clear legislative language to include such sales within turnover. en-us Tue, 17 Dec 2013 07:31:04 +0530 Thu, 23 Jan 2025 15:57:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=106318 Whether proceeds from sale of company owned vehicles purchased for use and not held as stock in trade fall within taxable turnover depends on whether such disposals are "in connection with, or incidental or ancillary to" the principal business; mere receipt of sale proceeds or previous payment of tax at purchase does not alone convert disposals of used capital items into taxable trading activity, and strict construction of taxing statutes requires clear legislative language to include such sales within turnover. Discussion-Forum VAT / Sales Tax Tue, 17 Dec 2013 07:31:04 +0530 https://www.taxtmi.com/forum/issue?id=106318