Please guide on the various direct and indirect tax compliances when fixed assets are shifted from one state to another state in India within same Company/firm- specifically taxes like excise and CST/VAT.
1 Replies
DAYANANDA K N
(ACCOUNTS EXCECUTIVE)
(575 Points)
Replied 10 August 2012
With regards to CST and VAT since it is transfer between branches of same company situated in different place no CST and VAT is applicable.
As for as Excise is concerned if any credit of excise as been availed when asset was purchased same needs to be reversed - General Rule. There are exception for whcih please go through cenvat credit rule 2004.
Recent Topics
- Huf property transfer
- Rent Paid By company but GSTR 3 B Return Reverse C
- F&O Loss carry forward and set off under the n
- SOLAR PLANT POWER
- Regarding chit broker commission gst
- Gst on security service provided by a pvt ltd co.
- First Year Audit of Pvt Ltd Company
- FD of My Deceased Grandfather have my name in nomi
- Investment in the name of minor
- Educational institute - Collection as " Other
Related Threads
CAclubindia
