ITC ON STOCK TRANSFER-INTERSTATE PURCHASE
This query is : Resolved
Jiwan singh
(Querist)
07 June 2010
Dear All
if we stock transfer our raw material (interstate purchased) to our other branch situated in other state ,will it restrict ITC 4% ? Please suggest .
Thanks
Regards
Jiwan singh
if we stock transfer our raw material (interstate purchased) to our other branch situated in other state ,will it restrict ITC 4% ? Please suggest .
Thanks
Regards
Jiwan singh
CA. O.P. Agarwalla
(Expert)
07 June 2010
No VAT is being paid to the state govt on purchases made through inter-satrte transactions. Hence, no question of ITC
Jiwan singh
(Querist)
22 June 2010
if we stock transfer raw material to other state which is purchases from within state supplier.in which ratio input tax credit would be taken.
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