Liability of KVAT on the proceeds realized from the sale of ...

KVAT Liability Confirmed: Banks Taxed on Sale of Repossessed Vehicles, Even Without Ownership at Sale Time.

July 5, 2018

Case Laws VAT and Sales Tax HC

Liability of KVAT on the proceeds realized from the sale of hypothecated vehicles - The Bank is not the owner of the vehicle at the time of sale. But however, after re-possession, sells the vehicles and effects transfer and delivery of the goods (vehicle) to the purchaser after receiving consideration - Levy of tax on Bank confirmed.

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Liability of KVAT on the proceeds realized from the sale of ...

KVAT Liability Confirmed: Banks Taxed on Sale of Repossessed Vehicles, Even Without Ownership at Sale Time.

July 5, 2018

Case Laws VAT and Sales Tax HC

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