intrastate movement

ritesh (sr manager ) (28 Points)

15 December 2010  

Dear All,

your revert would help as am in sales and less knowledge of cst and mvat.

 

what shall be the vat effect in following case

case 1 :- reliance buys gold from bank at 2000 + 1 % vat :- 2020 in mumbai sells gold to abc client in kolkata at 2060.

case 2 :- reliance buys gold from bank at 2000 + 1 % vat :- 2020 stock transfers gold to reliance kolkata & then reliance kolkata invoices to abc kolkata.

in both cases vat & cst :- 1 % on gold

assumed gold price Rs 2000/-

 

help me understand input vat credit.

also at what price it should be stock transferred and then adding kolkata vat and sale ?