Stock transfer

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Querist : Anonymous

Querist : Anonymous (Querist)

11 June 2014 Whether we are liable to pay tax in case we transfer the stock to our Branch , for example i transferred my stock Rs 5,00,000 in a year from Delhi (HO) to Mumbai (Branch) then how much vat i have to pay ????
its really urgent and it will be great if anyone can reply me.

CA.Shubhneet Kaur

CA.Shubhneet Kaur (Expert)
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11 June 2014 A declaration in Form -F is to be filed for proving stock / branch transfers from one state to another state to claim exemption, otherwise it is deemed to be interstate sale as per CST Act and 2% tax is applicable on the transferring state.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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11 June 2014 yes then u need to pay cst @ 2% and need to fill up form H

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Querist : Anonymous

Querist : Anonymous (Querist)

11 June 2014 form f is for stock transfer and form h for ?????????????

CA.Shubhneet Kaur

CA.Shubhneet Kaur (Expert)
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11 June 2014 Form H is for purchase of goods from outside territory of India & sale of goods outside India.
you only have to file form-f

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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11 June 2014 ya fill up form F only.............................

Querist : Anonymous

Querist : Anonymous (Querist)

11 June 2014 ok thank you so much

MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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11 June 2014 When you do stock transfer of locally purchased goods,then you have to reverse 2% of the ITC claimed on such purchases. If some manufactured goods are transferred against 'F' form then proportionate amount of ITC claimed on raw materials have to be reversed.'F' form can not be used for raw materials but for resale only.....mjk

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