17 November 2009
we will make branch transfer transation,for that trans which amount will consider, base amount or including tax amount in our salas tax return ?
17 November 2009
Value of Stock Transfer to be shown in return is the value you have shown in IBIC ( Inter Branch Invoice cum Challan) which should not have any Sales tax/Vat element, as Expert Singh said there is no sales tax or Vat attracted on Branch Transfer. You have to obtain the F form form the recipient Branch.
22 November 2009
Yes experts are right... Branch transfer is not treated as sales so that how could you take this as Sales ?... You just have to obtain F form Receipient Branch and file it in your records...NO SALES TAX....INCURRED....
31 December 2009
You have to see, what kind of branch transfer you are making. if it's intrastate, no F form will be involve in such transaction and no need to show in your VAT return, since RC no remain same of both branches. if it is interstate branch transfer, Form F has to be obtain from buyer branch. regarding value, it will be basic+excise duty and other charges, but no sale tax.
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