Itc reversal

This query is : Resolved 

29 October 2013 Dear Sir,

As per TN VAT act , that we are purchasing a goods within the state & taking credit and
Suppose the purchase ll be from inter state means what ll do? How to reverse the credit & what is the formulas need to be apply?

1]. While Trfd the goods to own unit against F Forms .

29 October 2013 NO ITC ON CENTRAL PURCHASE ALLOWED.

29 October 2013 Central purchase we wont take credit sir but local purchase we ll take credit , that time what is the reversal method with the formula sir?

pls guide me sir.




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