01 December 2014
if a small pvt.ltd. company moves its registered address from maharashtra to delhi and shifts its stock, is the stock movement liable to mvat or cst?
02 December 2014
Mr Kunjan and Joglekar,Pl note : A problem arises in this situation.If ITC was claimed on the stock held at the time of cancellation of registration in Maharashtra it has to be reversed.This reversal can be done in the last return to be filed before closure of business.Under one alternative this problem can be minimised. Before the closing of business in Mumbai open a branch in Delhi,transfer all the stock from Mumbai to this place.In this case you have to reverse 2% of the input tax only.In Maharashtra before closing your business you have to file all returns,file a final account(P&L A/c and Balance sheet)and then file an application for closure.There should be no arrears or pending proceedings in the offices or Court. Then, the RC will be easily cancelled.....mjk
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