10 May 2008
sir, if a dealer imports goods and then transfer to branches outside the state whether it will b taxable. as u/s 11(3)b of gujarat vat act: dealer has to reduce its input tax credit on stock transfer at the rate of 4%. kindly suggest me whether my imported goods transferred to outside branches will b taxable @4%.
02 June 2009
though language of Act is complicated. Tax to be reversed @ 4% on Taxable purchases within state. if you are able to proove that material which has been transfered is imported, u not need to reverse the input tax.
CAclubindia
