Section 19 amendments in tnvat act

This query is : Resolved 
 

(Querist) 12 November 2013

Clarification regarding the new amendment to the Section 19 of the TNVAT Act 2006


RENGARAJ R.K (Expert) 12 December 2013

According to the new amendement in sec 19 of TNVAT Act, when a dealer effects interstate sales against C form, he has to reverse 3% of Input availed.

In case of interstate sales of input availed materials without C form the dealer has to reverse 5% ITC.

In other words, for stock transfer and interstate sales without c form, for 5% commodities, the entire ITC will be forfeited. For 14.5% commodities 5% will be forfeited and balance 9.5% can be availed.




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