20 November 2013
F form required for stock transfer- F form is required to be produced as proof of stock transfer. As per section 6A(1) submission of F form is mandatory to prove stock transfer. Otherwise, the transaction will be treated as sale for all purposes of CST Act.
F Form is issued by the branch office/consignment agent receiving goods as branch/stock transfer to its head office/principal who is sending the goods by way of stock/ branch transfer. The H.O./Principal produces such F forms to its assessing authority to prove such stock/branch transfer.
20 November 2013
yes, agreed with Expert. In many cases, Companies keep their Depot / Branches in other states. Then, they transfer stocks from main production house to these Depots & maintain Stocks there. In these kind of cases, Depots have to issue Form F to Main Production Center.
19 January 2014
thank you all but there is another thing i want to know suppose head office purchases goods and pays vat @4% say goods is of rs 100 ie it will pay rs 104 to the seller and rs 4 will remain as vat credit now it transfers the good to its branch located in another state and issues form F and that branch sells goods at rs 106 paying say rs 5 as vat now can the branch claim vat credit of rs 4 which is still standing on account of HO?? or HO will get refund of vat credit??
CAclubindia
