Input VAT Restriction calculation against Stock Transfer
This query is : Resolved
08 January 2011
Hi,
XYZ company purchased goods ( 10,000 qty ) of Rs.10,00,000/- @ 5% , total Rs.10,50,000/-.
7500 Qty transfered to respective branch as stock transfer against F-form.
Balance 2500 with XYZ.
In this case, how much input restriction ?
What is formula for Input VAT restriction ?
XYZ company purchased goods ( 10,000 qty ) of Rs.10,00,000/- @ 5% , total Rs.10,50,000/-.
7500 Qty transfered to respective branch as stock transfer against F-form.
Balance 2500 with XYZ.
In this case, how much input restriction ?
What is formula for Input VAT restriction ?
08 January 2011
Hi
there is no ristriction of claiming input.
you can avail 100%
there is no ristriction of claiming input.
you can avail 100%
08 January 2011
Hi,
Thank You,
One of consultant instructed that there is input tax restriction against stock transfer With reference to Karnataka VAT-100, In Ineligible Input Tax Credit ( 10 ).
- 10.3) Non-Deductible input tax- Under special rebating scheme u/s 14 read with Section 11
Pls let me no clear details.
Thank You,
One of consultant instructed that there is input tax restriction against stock transfer With reference to Karnataka VAT-100, In Ineligible Input Tax Credit ( 10 ).
- 10.3) Non-Deductible input tax- Under special rebating scheme u/s 14 read with Section 11
Pls let me no clear details.
08 January 2011
Under Dvat-04, you have to reverse 2% input tax credit on Rs.750000/=(75000qtyx10)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- TDS deduction (debit notes)
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- TDS on purchase of value vouchers for employees ?
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
