Interstate sale input credit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 August 2012
in case of inter-state branch stock t/f there is no liability for CST and we can take the credit of input at its original rate eg. if paid 4% paid on purchase then we take 4% credit.
And in case of inter-state sale we have to pay CST @2%.
now Question is that if we pay CST @2% even then we have to reverse the 2% credit on purchase? (i.e. we are losing 4%, 2% as reversal on input credit & 2% which we paid)
And in case of inter-state sale we have to pay CST @2%.
now Question is that if we pay CST @2% even then we have to reverse the 2% credit on purchase? (i.e. we are losing 4%, 2% as reversal on input credit & 2% which we paid)
10 August 2012
1. If the goods are transferred outside state (interstate branch transfer) then retention is applied on corresponding purchases as per Rule 53(3) of MVAT Act.
2. If interstate sales have been made, then full set-off on corresponding purchases can be claimed. (exception being Rule 52A)
2. If interstate sales have been made, then full set-off on corresponding purchases can be claimed. (exception being Rule 52A)
10 August 2012
Mr Author,
If interstate sale is made with 2% CST,then there need not be reversal of input as it happens for branch stock transfer.....MJK
If interstate sale is made with 2% CST,then there need not be reversal of input as it happens for branch stock transfer.....MJK
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reporting Income under Section 44ADA
- Itr 1 processing
- ITR 2 Short Term gain & Long term gain
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- ITR 1: Details for showing Exempt Income
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- ITR validation error - Balance sheet is not filled
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
