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Isd invoice calculation

Suchita Shivaji More (Accountant) (168 Points)

18 May 2018

Dear Sir/madam, We have our branch in Cochin and head office in Mumbai. How will input credit transfer from cochin to mumbai? if raise TAX invoice on Mumbai hoe to calculate taxable amount on credit distributed?

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3 Replies

Nilkesh kumar (no) (192 Points)
Replied 18 May 2018

Refer section 20(2)(e)& (d)

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Srinivas Pyata (543 Points)
Replied 18 May 2018

if it directly attributable to branch transfer total itc to branch
if it is common for other branches and head office transfer on the basis of turnover of each branch

Suchita Shivaji More (Accountant) (168 Points)
Replied 19 May 2018

In cochin branch, no sales invoices are issued so if we transferring inout credit to Mumbai we have file GSTR 1 ..so while filling GSTR 1 how to calculate Taxable value in raising ISD invoice