Stock transfer in other state

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Querist : Anonymous

Querist : Anonymous (Querist)

24 November 2013 We have manufacturing unit in tamilnadhu. We are going to stock transfer sale in karnataka. Kindly suggest us what are the formilties and tax liabilities in both states

MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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24 November 2013 For doing stock transfers agents,who are registered dealers in KVAT Act are appointed through agreements. Goods are sent through official delivery notes to the agents.The agents are required to furnish F form for consignments received in each month.Reiving of products on stock transfer have to be declared in returns by both the parties.The manufacturer has to reverse the input tax claimed on the raw materials purchases by 2%.Full VAT is chargeable on the sale of these goods at applicable rates.....mjk

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Querist : Anonymous

Querist : Anonymous (Querist)

24 November 2013 Sir, we have manufacturing unit in tamilnadhu, we are planning to sale our product in karnataka via stock transfer. In this regard we are planning to registered in k-vat as well as excise registration in karnataka. Is there any extra tax liability apart from input tax reverse. Suggest us sales tax consultant in bangalore.

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MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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26 November 2013 In TN input tax reverse is the only point to be taken care. Here VAT and CST registration are to be done. Full rate of tax will be applicable as per schedules.For the present I can also be your consultant ,as I am practicing.My e-mail is mjkrishnamurthy@gmail.com...mjk