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Retention of VAT input credit on branch transfers.

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This query is : Resolved

CA. Vijay Kumar Bijaka (Querist)

17 April 2011 Dear Sir, I have to ask you that whenever any interstate branch transfers of goods are made then credit of VAT paid on purchases made within state is allowed after some retention. Now my question is about the rate of retention whether the rate is 4% or 2%, please tell me its urgent.

CA. Vijay Kumar Bijaka

CA. Vijay Kumar Bijaka (Querist)

20 April 2011 It was first time I have asked a question online to various subject experts in expectation of prompt and correct answer. But today I realized that it is nonsense to ask online questions when there are zero replies to my question even after 4 days. Now I declare that there is no further need to answer the question, I got my answer after making efforts on my own as 2%.

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