XYZ company purchased goods ( 10,000 qty ) of Rs.10,00,000/- @ 5% , total Rs.10,50,000/-.
7500 Qty transfered to respective branch as stock transfer against F-form.
Balance 2500 with XYZ.
In this case, how much input restriction ?
What is formula for Input VAT restriction ?
there is no ristriction of claiming input.
you can avail 100%
One of consultant instructed that there is input tax restriction against stock transfer With reference to Karnataka VAT-100, In Ineligible Input Tax Credit ( 10 ).
- 10.3) Non-Deductible input tax- Under special rebating scheme u/s 14 read with Section 11
Pls let me no clear details.
Under Dvat-04, you have to reverse 2% input tax credit on Rs.750000/=(75000qtyx10)