Form F issuance...Urgent Sir!!

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Rajesh (Querist)
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15 September 2010 Dear Experts,
1)Please explain me on what occasion we have to issue Form F. In other words when can we treat TRANSFER OF GOODS OTHER THAN SALE?

2)Should we have to issue Form F if the stock is transferred within the state?

3) In case of goods send to consignee should we have to issue Form F?

4) In case of joint venture when we issue goods should we have to issue Form F?

5) Suppose there is an exhibition for goods, we exhibit our goods and if there occurs any sales, If such exhibition is conducted case a) within the state case. b) outside the state. case c) outside the country. Can we issue Form F in all the above cases?

6) Issue of Form F when we are transferring goods to an Agent. Agent says that he will hold the goods only as the trustee till the sale is made. However he shall book the invoice in his name when the sale is made. Whether Form F can be issued when the goods are send to him?

Please explain me on the above issues.

With regards,
Rajesh.

MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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01 August 2011 Mr Rajesh,
Sorry your query has not been replied so far.I don't know whether this will be useful.However,the reply is as follows:
You should issue an'F' form whn you receive goods from some other dealer as stock transfer.
For taking your products to exhibitions any where you may use only a official or self made,as the state law permits,'Way bill'.If you sell any goods in exhibitions you can issue invoices and bring back the balance goods,with proper accounting.
For stock transfer within the state only official 'Way bills'along with challans are to be used.
When you send goods to a consignee on stock transfer the consignee should send 'F' form to you.
You can send your products to an agent also on stock transfer,against 'F' form'.He has to sell them on your name,send the sale details,along with his commission and settle the issue. You should not raise an invoice again which will result in double payment of tax.
Please note 'F' form is interstate transactions only.
MJK

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