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Input tax restrictions under sec 14 of kvat act

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 July 2012 dear collegues

how to compute input tax reversal on account of stock transfer to own units situated outside the karnataka.

example: Total vat purchase 10000+ credit 1400
Total CST purchase Rs. 10000+cst 2000

Vat sales Rs. 8000+ output tax 1120
cst sales Rs. 5000+ cst 100
stock transfer to interstate units Rs. 5000+ cst not charged agaist form F.

please guide me how to compute input reversal under sec 14 for the value of goods transfered to interstate units.


thanks in advance

rk
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RENGARAJ R.K

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RENGARAJ R.K (Expert)
19 July 2012 Dear RK,

What is the rate of tax for your products purchased and transferred to other units? The answer is based on that only.

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