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Karnataka Vat

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 January 2011 I am sending materials from Mumbai Br. to Karnatana Br. It is Br. Trf Sales for Mumbai Br. and Br. Trf Purchase for Karnataka Br. Obviously Maharashtra states material trf to Karnataka State. In the view of the maharashtra state we will get reduction from set off @ 2% on Net Br. Trf sales amt. My question is that, is there required to pay tax(Vat) to the Karnataka state from my Karnataka Br. for Br. Trf Purchase amt/ transaction ?

Answer in details, please.

Thank you.

B R Ramesh

B R Ramesh (Expert)
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16 January 2011 Hi

there is no tax implification on this transaction.

only that the karnataka branch should issue a F- Form to the mumbai for each month stock transfer.

if you are not produced the F form you need to pay the full rate of tax.

Querist : Anonymous

Querist : Anonymous (Querist)

18 January 2011 Thank you, Ramesh.

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