kamalesh chatterjee (Account Assistant) (58 Points)
06 June 2016Dear Sir,
q-1 what input vat credit i can get for stock transfer/branch transfer to the other state and within the state?
q-2 how state govt earn revenue from vat??
q-3 if i puchase an item from central and sold it within the state, then itc is available or not??? on reverse if i purchase from local and sell in central party then itc is available???
please anybody explain in details.
thax in advance
CA. Piyush Jain
(5 Points)
Replied 12 June 2016
1. There is no output vat /cst on branch transfer , so no question of ITC availability
2. State govt and central govt shares all tax revenue, so its part in their income
3. CST credit is not avbl in local vat sales, it would not even if GST would applies
CAclubindia
