About vat
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 February 2012
Dear Sir,
I working in telecom industry, It has Three Branches in India ,
Is possible that purchase from one Branch(e.g. AA) & sale make form another Branch (e.g. BB )& get benefit of input tax into Branch BB.
IF possibly pls commend..............
I working in telecom industry, It has Three Branches in India ,
Is possible that purchase from one Branch(e.g. AA) & sale make form another Branch (e.g. BB )& get benefit of input tax into Branch BB.
IF possibly pls commend..............
27 February 2012
Firstly there cannot be a sale between the branch of the same company.. (u cannot sell to your self).
Also the input tax benefit shall not be allowed and required to be reversed should the goods purchased locally are stock transferred to a branch etc of other state.. as there shall be no output..
Also the input tax benefit shall not be allowed and required to be reversed should the goods purchased locally are stock transferred to a branch etc of other state.. as there shall be no output..
28 February 2012
Dear Hariji I am sorry i am little bit contradicting your opinion.
If assuming Branches are in same state
You can show it as branch transfer and full input VAT Credit .
If Branches are in other state-
And you show it branch transfer against F Form then you will set off after retention @ 2 % . At the branch from where transfer is made
If assuming Branches are in same state
You can show it as branch transfer and full input VAT Credit .
If Branches are in other state-
And you show it branch transfer against F Form then you will set off after retention @ 2 % . At the branch from where transfer is made
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