CST LIABILITY ON BRANCH TRANSFERS

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SANJIV BATRA (Querist)
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29 January 2011 WE ARE MANUFACTURER OF TV AND OTHER ELECTRONIC GOODS. WE ALSO IMPORT ELECTRONIC COMPONENTS FOR USE IN OUR PRODUCTS. WE HAVE OUR ONE UNIT AT NOIDA. IF WE TRANSFER SOME ELECTRONIC COMPONENTS TO OUR NOIDA UNIT AGAINST FORM 'F'. IF ANY CST LIABILITY ARISES ON THIS TRANSACTION OR NOT?

THANKS

SANJIV BATRA

CA Shailesh Kumar Bhagat

CA Shailesh Kumar Bhagat (Expert)
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29 January 2011 No CST liability on normal branch trasfer of stock items against form F.

SANJIV BATRA

SANJIV BATRA (Querist)
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30 January 2011 MR.SHAILESH, THANKS FOR YOUR REPLY.

I WILL APPRECIATE IF YOU COULD CLARIFY THAT:

(1) SHALL WE CHARGE CST, IF WE SELL IMPORTED ELECTRONIC COMPONENTS TO M/S ABC COMPANY, IN ANOTHER STATE ON FREE OF COST OF BASIS, SINCE REJECTED BY US AND FOREIGN SUPPLIER INSTRUCTED US TO DELIVER THESE ELECTRONIC COMPONENTS TO M/S ABC & COMPANY.
(2) WILL WE HAVE TO REVERSE (FULL INPUT TAX CREDIT OR 2% (CST RAT) ON BRANCH/STOCK TRANSFER AGAINST 'F'FORM, IF WE HAVE ALREADY AVAILED INPUT TAX CREDIT ON PURCHASES OF ELECTRONIC COMPONENTS?

SANJIV BATRA

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