12 November 2009
If we transfers the stock from our U.P. factory to our C&F agents who is in the same state , can we take the Vat credit on this transaction .
12 November 2009
Stock transfer of goods are not sale. You will be liable to charge VAT at the time of sale goods from the premises of C&F agents. Hence, you may take ITC of VAT paid on purchase to offset the same at the time of sale.
CAclubindia
