Sale to own branch against form c

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 June 2012 Can a company sale goods to its branch located other state against form C
AO disallow stock transfer to branch on the basis of predetermind sale.

CA Vibhash Kumar Sah

CA Vibhash Kumar Sah (Expert)
Follow

01 June 2012 It is well established principle that one cannot sell to himself. A company cannot make sell to its branch. If is not possible to do the stock transfer, u can directly sell to the cutomer without effecting any stock transfer.

Here one more thing I wish to mention, there are commissioner circulars in several states which clarify that benefit of stock transfer cannot be denied merely because contract of sale has been entered into before the stock transfer.

RENGARAJ R.K

RENGARAJ R.K (Expert)
Follow

23 July 2012 When a particular stock is earmarked for a particular buyer and stocks are transferred to your own branch, it will be treated as Interstate sales on the basis of pre-determined sale. The observations of the Supreme Court decision in case of M/s. Ashok Leyland Ltd 134:STC:473 (SC) wherein the apex court has held that once the assessing authority accept form F and has held the transaction as branch transfer, i.e final and no revision can lie against the same. So whether your CST forms of the branch is accepted or not?

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

HITESH NIRANJAN SAHU

REGIWISE CONSULTANTS PVT LTD

R M Shekhaliya

CA Aakarsh Jain

SUMAN SAHA

Subscribe Now

Sale to own branch against form c

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA