Vat adjustment

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Minaxi Parmar

Minaxi Parmar (Querist)
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22 January 2014 Is there any rule about reverse credit on stock transfer in Gujarat?If yes then What is it?

Vishnu Saboo

Vishnu Saboo (Expert)
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21 February 2014 Elaborate ur query what exactly u want to know

Minaxi Parmar

Minaxi Parmar (Querist)
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22 February 2014 I have head office in Gujarat and branch office in M.P.If I transfer goods from Gujarat to M.P branch, am i eligible for ITC on purchase? If I can take ITC, how much ITC I have to reverse for that?

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Vishnu Saboo

Vishnu Saboo (Expert)
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22 February 2014 yes, you can avail ITC, but in case of Branch transfer to outside state you have to reverse ITC @ 4%. refer Section 11(3)(b) of GVAT.

Minaxi Parmar

Minaxi Parmar (Querist)
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24 February 2014 Thank you very much.

Vishnu Saboo

Vishnu Saboo (Expert)
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24 February 2014 welcome. its pleasure to help you

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