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VAT2005-42
NOTIFICATION
No. FD 300 CSL 2005, Bangalore, dated: 24.10.2005.
In exercise of the powers conferred by sub-section (3) of section 4 of the Karnataka Value Added Tax Act, 2003 (Karnataka Act 32 of 2004) the Government of Karnataka hereby reduces with immediate effect, the tax payable by a dealer under sub-section (1) of Section 4 of the said Act on the sale of used car to four percent of the difference between the taxable turnover in respect of such sale and the amount paid towards purchase of such car subject to the condition that,-
  (i) no deduction of input tax is claimed by the dealer in respect of purchase of any goods used in the car sold; and
  (ii) such car has been registered in the State prior to its sale under the provisions of the Motor Vehicles Act, 1988 (Central Act 59 of 1988)
 
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