13 July 2012
This is only a stock transfer and therefore it does not attract any tax in U.P or in Maharashtra. After transfer to mumbai, you have to check the rate of tax or exemption available to your commodity viz.,rice when you sell in maharashtra. The transaction will have to be covered by Form F and not Form H. Please note when you take RC in Mumbai, the name of the firm should be one and the same that of U.P to be treated for Stock transfer.In your CST RC the other state branch has to be incorporated in both states.
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