dear users
kindly tell me how to account for stock transfer under karnataka vat act ?
is this also taxable now in the light of judgement of karnatak a high court?
3 Replies
Ajit kumar Dubey
(Taxation Manager)
(637 Points)
Replied 06 July 2012
Whenever there is a stock transfer form one registered dealer to another within the same state, without any form then VAT will be attracted on the same. Also when there are transfer of goods from one state to another without F-Form there will be VAT on the said transfer. Hope it clarifies the issue.
sandhya
(ca)
(92 Points)
Replied 06 July 2012
i was wanting to know if it is treates as sale and taxable
Ajit kumar Dubey
(Taxation Manager)
(637 Points)
Replied 06 July 2012
If F Forms are not produced to the department, then it will be considered as sale.
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