Reverse Input Credit
This query is : Resolved
CA ARVIND TIWARI
(Querist)
24 March 2009
A dealer has import purchase as well as VAt purchase on which he claims Input Credit and transfers a portion of stock u/s 6A of the CST Act outside W.B. The qestion is, is he liable to reverse input credit proportionately on stock transfer? Can we argue that transfer is out of Imported goods ?
Vishnu Saboo
(Expert)
01 June 2009
y can, but you have to proove that material transfered by u is imported.
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