Anoop (Service) (345 Points)
07 October 2009In case of stock trf. the goods to our branch located in another state against 'F form and on the same goods we have already taken input credit since it was locally purchased. How much tax (4% or 2%) we shall have to reverse in the state of Haryana, UP & Delhi and if differ rules in other state.
Kindy clarify.
Madhukar N Hiregange
(Chartered Accountant)
(39034 Points)
Replied 07 October 2009
As a principle it should be 2% however each state laws may have to be referred for confirmation.
k.r.anantha ramu
(Income Tax Excise ServiceTax & Vat Consultant)
(27 Points)
Replied 26 October 2009
Dear sir,
Iam a manufaturer in b.lore have sent stock to my branch in kerala-due to some problem later i closed the branch. now vat audit officials have put 12.5% on the total value of stock transfer.iam worried, what could be the remedy . please answer.
regards
kishor.
k.r.anantha ramu
(Income Tax Excise ServiceTax & Vat Consultant)
(27 Points)
Replied 28 October 2009
please refer section 17 - rule 131 of kvat.
thank you
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