Rajeev Kumar (Accounts Officer) (26 Points)
21 October 2012we have bought goods from manufacturer of goods from Agartala. He has been billing directy to us agst Form-F & also he charged VAT 5% in bill. They also mentioned in bill 'STOCK TRANSFER'. While we are buyer only.
Kindly suggest me should we issued Form-'F' to Party.
Satheesh Rabindranath
(APPL - CHN)
(37 Points)
Replied 21 October 2012
If F form is involved. He should not charge you VAT . It is only a Stock Transfer. If he has charged you VAT this will come under double taxation.
Satheesh
BRS VASAN
(profession)
(72 Points)
Replied 22 October 2012
You said you have brought materail from other state. If it is not from your parent concern or your branch. How you will Form F. Form F is pertaining to Stock transfer from the own company. Hence issual of form f will not arraise. you may issue Form C that also if they charged 2% in there bill you can use. If not no.
a
(Accountant)
(21 Points)
Replied 23 October 2012
No,you need not to issue form "F".
Form "F" is issued against transfer of stocks & material to Branch & C&F. In your case they have charged Vat 5% in bill.
Thanks
Anil Sharma
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
CAclubindia
