Question about charging VAT on commercial vehicle sale?
396128
If you have brought your vehicle with out vat, it sa criminal affence.!!\nyou have to sell it with vat.
345629
My country does not have VAT at present but the government will introduce it 1st jan 2007.
913990
Excluding VAT but before any profit related taxes which should appear as a seperate item further down the P & L account.
507016
if you are a reseller then  YES you will have to charge michigan sales tax @ 6%\nExempt due to Resale  If the products and materials produced are to be resold to an end user and that end user pays the sales tax, the reseller does not. This is simple for a business which acts as a "middleman".In the State of Michigan Sales Tax is 6% on material goods.As a reseller of goods and services we are required to collect sales taxes for the State of Michigan.\nbut if you are in auto manufacturer:\nExempt due to Industrial Process  Many manufactures take a broad view of this exemption. The auto manufacturers for instance may claim that every aspect of their business results in a car in the showroom and the buyer of that car pays the sales tax. This is definitely a red flag to auditors and we take the policy that only items directly contributing to the end product, for the most part elements of the end product qualify for this. We absolutely require a signed W9 on file if you choose this exemption and we will not be held responsible for clients qualifications for taking it.\nFor more details visit the site below and consult your CA or auditor.\nHope that helps..
854015
hmmm.. i have no freaking clue you lost me at VAT lol sorry
888110
Straight 12.5% service tax nothing else! There are few restaurants how took some extra taxes but they r fake, don't pay any thing else except ur bill+12.5%. Ask for proper bill.\n\none like this is khana unlimited, CP,New delhi. They charged me12.5% service tax+10% VAT. I fought with them and asked them to give me proper bill they returned me 10% VAT Portion!!! \n\nNormally they are used to give bill on plain paper which can not be used as proper evidence.
1112472
If you are using you vehicle for business purposes, then yes you can deduct it.\n\nThe extent of your deduction is based on what type of vehicle you get.  You might want to use just mileage (and you have to watch was is and isn't considered deductible) or depreciate your vehicle's business use percentage.  Remember to keep good records and think about consulting a CPA before year end to discuss.\n\nGood luck!
1114492
Put an ad in the paper soliciting a donation of a vehicle to be used by the charity.  As long as it is going to be used by the charity the donor should get a fair market value deduction for the donation.
348474
Not sure but I know you can get a 17.5% discount from VAT (value added tax). Ask the person to discount it and file and not to pay VAT.
1176516
I noticed you have this listed under Australia/New Zealand. I can not answer for those countries but, if you are in the United States, the company is responsible for all license and tax fees for their vehicles, regardless if the vehicle is work use only or the employee is allowed to use it for personal use also.
822868
Click on the link below for VAT rates and refer to VAT Schedule of Gujarat as VAT is leviable on specified products \nhttp://www.allindiantaxes.com/vat-gujarat.php
422527
VAT is an EU sales tax and is more than just 17.5%. It actually is quite a complex tax that is present in many countries around the world. Is it fair, sales tax is supposed to be a key revenue stream for governments around the world and it is key to a strong economy. However, due to its complexity it is hard to give relief from the tax in areas that need it (such as charities and disabled usage) without people using such loop holes for ineligible use. On the otherhand the way in which the tax is applied by the tax man can sometimes seem unpractical and harsh.\n\nFuture... it depends on whether the EU looks to cut red tape and improve the environment that businesses operate in or whether they look to close the VAT gap and tighten the net on those who evade taxes, which often means that others who benfited from ligitimate gains also lose out. At this moment it could go either way.
879450
1)  The simple answer is no.  That's not strictly true as it is possible to claim VAT back if the car is bought solely for business use.  This criterion is quite strict.  It usually means that it must only be insured for business use and you will have to convince HMRC that it is not used for any private mileage.  The only businesses I know that claim this are vehicle leasing companies and private chauffeur hire companies.\n\n2)  Yes, capital allowances are available but note that unless the car qualifies as in (1) then first year allowance will not be available.  You just get the 25% writing down allowance subject to the overriding maximum.  As already mentioned you must reduce the claim by the proportion of private miles to total miles.
699713
The entire NY VAT (vehicle and traffic) consolidated code is available online for free here:\n\nhttp://public.leginfo.state.ny.us/menugetf.cgi?COMMONQUERY=LAWS\n\n(scroll down to VAT and click on it)
20712
Yes, u need to charge sales tax for all services, parts, etc. Hint: You can charge double the tax on parts u have purchased by adding the oriogonal sales tax you paid into the origonal cost of the item and then adding the customer tax on top of it. This will result in a slight overpayment of taxes for each product sold and generate a larger return at the end of the year. Idealy you need to add the customers sales tax to the item before the origonal sales tax was applied. This is called passing the tax along to the customer. Not sure how tax rates run where you are at but for us the purchasig origonal sales tax is less than the sales tax we must charge for items purchased from us by our customers. Yes there are 2 different rates for us is PA. The origonal sales tax we must pay is govered by our state, the customer sales tax is govered by federal tax laws. Don't try to figure it out, like i have been trying, just abide by it or it will drive you nuts! HA\nI work as a book keeper for a computer repair company, and in USA the fed gov wants tax money for everything we do. Below is our companies site. It has nothin to do with tax though. We too charge a flat rate for repairs and figure the taxes into that after the sale. So we do not make the entire said rate but only a portion once we take the taxes out of it. This way it is a solid dollar amount and we can say we charge a flat rate for labor and it looks more attractive to our customers and ALOT easier for them to guestimate in their heads what a repair cost might be.I Hope this helps you out.
1119437
I haven't done this in forever, but I'll try.  If I get something egregiously wrong, let me know via email.\n\nIn the interests of laziness, I used M instead of MM for million.\n\nIn time 0, there's\n-15M\n-150k\nSum = -15.15M\n\nIn year 1,\nthere's\n-1M from fixed costs\n-5.65M from change in NWC (58M in sales -> 5.8M total)\n+8M from (sales - VC)\n-2.8M in tax\n+1.5M from deprecation tax shield\nSum = .05M\n\nIn year 2,\n-1M in fixed costs\n-2.9M from change in NWC (87M in sales)\n+12M from (sales - VC)\n-4.4M in tax\n+1.5 from depr\nSum = 5.2M\n\nIn year 3,\n-1M in fixed\n+4.35M (43.5M in sales)\n+6M from (sales - VC)\n-2M in tax\n+1.5 from depr\nSum = 8.85M\n\nAt the end (still year 3),\nthere's\n+4.35M from recovered NWC\n+3.75M in salvage value (might be less if the book value is less than 3.75...I don't exactly remember how to handle this, but it might be 60% depending on if the sale is taxed from whatever cost basis)\nSum = 8.1M\n\nSo, -15.15M + (.05M/1.2) + (5.2M/1.2^2) + (8.85/1.2^3) + (8.1M/1.2^3) = -1.69M\n\nThe IRR is relatively trivial from here.\n\nHm, so it's looking negative.  I'm not sure.  There's definitely something off in my calculations somewhere.  *shrug*
574977
You would need to state the condition of the bill itself for anyone to give a true answer. Myself whenever a have a question about anything true value i hit up ebay first to see what the going rate is for items such as this.