Branch Transfer
This query is : Open
07 January 2011
Dear Experts
Pls help me on following:-
One of my assessee is in the business of manufacturing shoes which is a excisable product. Now they want to shift its factory from delhi to kundli & they want to shut down the factory of delhi. so all stock will also be transferred.
Pls tell me what are the compliance as per Excise Act, sale tax and income tax also.
Regards
Deepak Kakkar
Pls help me on following:-
One of my assessee is in the business of manufacturing shoes which is a excisable product. Now they want to shift its factory from delhi to kundli & they want to shut down the factory of delhi. so all stock will also be transferred.
Pls tell me what are the compliance as per Excise Act, sale tax and income tax also.
Regards
Deepak Kakkar
08 January 2011
First obtain registration under Haryana vat act and CST act in Kundli. transfer all the stock and machinery to kundli. Reverse applicable tax in Delhi.At lat close firm at delhi . File DVAT-09 IN Delhi Vat Deptt.Inform new address to Income Tax Deptt. in PAN, TAN.
09 January 2011
Excise duty is payable on transfer also.
No VAT is payble in case of material transfer.
Inome tax is not attributed to this transaction.
No VAT is payble in case of material transfer.
Inome tax is not attributed to this transaction.
10 January 2011
Difference of opinion
The party will get the cenvat of excise duty paid on transfer of factory.
The party will get the cenvat of excise duty paid on transfer of factory.
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