Punjab VAT

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 February 2011 Sir hypothetical figures relating to my query for A.Y. 2005-06 in PUNJAB state are:

Sales subject to VAT Rs. 10,00,000
Consignment/Branch Transfer Rs. 5,00,000
Total sales Rs. 15,00,000

Total Purchases (4% + 12.5%) Rs. 10,00,000
ITC on above (4% + 12.5%) Rs. 1,00,000

Now i want to calculate the reversal amount (apportionment for branch transfer)??
I am little bit confused over 2 methods which are:
1st method:
Reversal amount= 1,00,000*5,00,000/15,00,000 = 33333

2nd method:
Reversal Amount= 5,00,000*10,00,000*4/15,00,000*100 = 13333

NOW WHAT IS THE CORRECT AMOUNT TO BE REVERSED?
PLEASE SOLVE MY QUERY RECITING APPLICABLE RULES AND TAX LAWS.

Querist : Anonymous

Querist : Anonymous (Querist)

10 March 2011 plz reply back.......many days have passed since i posted this query. Why this is taking so much long time?