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(Querist)
25 November 2009 Hi
I need know. A company done Three types of sales after purchase made under VAT

1. Export Sales
2. Central Sales
3. Branch Transfar

What is the accounting of VAT in this case.
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Vishnu Saboo

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Vishnu Saboo (Expert)
01 December 2009 in case of Export, if final product is not exempted, VAT credit can be availed and refund can be claim.
In case of CST sale, VAT credit can be set off against CST liability.
in case of BT, VAT should be reveresed @ 4% on material sent as BT.
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