06 December 2007
Back ground: 1.A pvt ltd Company having its Head office in Mumbai with MVAT & CST Registration. 2.It has Branches at New Delhi & Kolkata having the respective VAT & CST Registration. Query: 1.Goods purchased by the local branch at delhi send to head office under F Form . - when goods purchased locally it is eligible for VAT input for sales made at delhi branch,but will it eligible for input tax credit on goods purchased locally in delhi & the same stock has been tranfered under form F to the Head Office,even if no sale has been made at delhi branch - The goods transferred from the branch is to be sold lyving the local VAT where output tax is to be generated & paid to maharastra government. - Is there any taxation impact on the above transactions.
CAclubindia
