1 Replies
Shivani
(Learner)
(1881 Points)
Replied 08 June 2014
Dear Members
Please consider following situations.
-
Interstate purchase of goods AGAINST Form C Rs. 10000. CST rate applicable obviously is 2%. Now we transfer all these goods to our branch in OTHER state.
-
Interstate purchase of goods AGAINST Form C Rs. 10000. CST rate applicable obviously is 2%. Now we transfer all these goods to our branch in OUR state.
-
Interstate purchase of goods WITHOUT Form C Rs. 10000. CST rate applicable will be VAT rate in the state of seller say 12.5%. Now we transfer all these goods to our branch in OTHER state.
-
Interstate purchase of goods WITHOUT Form C Rs. 10000. CST rate applicable will be VAT rate in the state of seller say 12.5%. Now we transfer all these goods to our branch in OUR state.
-
Local purchase of goods Rs. 10000. VAT rate applicable in our state is 12.5%. Now we transfer all these goods to our branch in OUR state.
-
Local purchase of goods Rs. 10000. VAT rate applicable in our state is 12.5%. Now we transfer all these goods to our branch in OTHER state.
I know what will be the entries at the time of purchase in all above 6 cases.
What I need to know is what will be the entries at the time of branch transfer in all above cases and how will we deal with the CST/VAT (paid on these goods at the time of purchase) during branch transfer.
I belong to Punjab and the relevant Act is Punjab Value Added Tax Act, 2005.
Thanks in advance.
Shivani
Recent Topics
- Avoiding tax audit in case of intraday equity loss
- Form 3CEAB
- Form 3CEAA and Form 3CEAB
- DIR 3 Web KYC
- Can i declare LTCG income as business income if I
- Stock entry in new software
- I have an EMI collection shop, what is its SAC cod
- Making payment once in quarter possible under QRMP
- Master File Documentation related
- Applicability of 44AD needs clarification
Related Threads
CAclubindia
