S Chouhan (20 Points)
26 May 2008A dealer registered in W Bengal purchased goods in the state and send it to its branch at Delhi by Stock Transfer. The dealer also sell taxable goods imported from outside state/country and there is VAT Output also.
A) Can he adjust the VAT Input of such goods with output
B) Can excess Input be carry forward for adjustment in next quarter(s)
C) Can excess Input be claimed as refund.
Please advice
MUKESH
(ADVOCATE)
(38 Points)
Replied 26 May 2008
Mr.Chouhan First you have to clear that when the stock will be transfer you will raise a transfer note so where you will charge the tax and I would like to clear here that No Input tax credit allow at Interstate purchase so you can't take input tax credit
S Chouhan
(20 Points)
Replied 27 May 2008
Mr. Mukesh
The Dealer raised the transfer note to its branch and the dealer also sell the taxable goods within the state by importing goods outside state/Country.
MUKESH
(ADVOCATE)
(38 Points)
Replied 07 June 2008
Mr.Chohan
first you are not elegible to take input tax credit on the goods which your impot from outside state and the amount input tax credit would be elegible at your principal place by the way of reverse input tax credit
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