Pankaj Arora (Learner) (3134 Points)
27 April 2012
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Dear All |
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suppose if company A Purchased Rs. 10000 goods + 10 % vat = Rs. 1000 input vat and same goods transfer to its Branch B in Haryana than we have to reverse 2 % tax and balance 8 % we can take input credit. Am I right? Will input credit available proportion to stock transfer and secondly if it will be than what will be accounting entry to reverse this 2 % tax. |
Sameer
(EXPERT)
(173 Points)
Replied 27 April 2012
first of all if u send goods to a outside state to ur branch ,then no need to charge cst if it is against the F FORM.FURTHER IF IS A SALE ,THEN U CAN TAKE THE INPUT CREDIT OF VAT TO ADJUST THE CST LIABILITY,BUT INPUT CST CANT BE ADJUSTED WITH OUTPUT VAT
Pankaj Arora
(Learner)
(3134 Points)
Replied 27 April 2012
hey first read query and than answer it I am not saying for any input cst adjustment with vat. I am asking
that I read in books if you purchased any guds with input vat and same amount goods u transferred to
your branch than 2 % as cst will be reversal from your input credit vat whether u give form F or not
Sameer
(EXPERT)
(173 Points)
Replied 27 April 2012
what u wanna to proof i didnt get
first i said as ur querry is
& secondly u r not paying me anything ,u r just asking in a forum ,so be normal dont aggresive in ur words
hope u r not a professional,unless its a shame on u
Pankaj Arora
(Learner)
(3134 Points)
Replied 27 April 2012
Sameer
(EXPERT)
(173 Points)
Replied 28 April 2012
so my f**k,get lost,u believe in scores & i believe in potencial ,i m sure u r not a professional at all
Deepak sharma
(Learner)
(1431 Points)
Replied 28 April 2012
Yes ! You can take credit of Input VAT by deducting 2% of VAT
for e.g
your purchased goods 10000 + vat 500
sold to branch agst F form 10000
2% of Invoice (Rs 200) will be Tax Credit disallowed in respect of Stock Transfer out of Delhi [Section 10(3)]:
Pankaj Arora
(Learner)
(3134 Points)
Replied 28 April 2012
CAclubindia
