Set off retension

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Ca Siddharth Mehta (Querist)
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09 February 2012 a)Sales promotion items (like hoardings, pamphlets, display items, leaflets etc), Stationery items, are purchased centrally at Maharashtra and then distributed to all branches in India. Whether set off retention will be applicable ?

b) Free Gift items are purchased centrally at Maharashtra and the distributed to all branches in India to be sold along with regular products. Whether set off retention will be applicable ?

c) Consider a situation when the goods are dispatched from Maharashtra to third party for job work in Rajasthan. Whether set off retention will be applicable if goods dispatched comes back to Maharashtra
after 6 months?

CA CS Pawan Jajoo

CA CS Pawan Jajoo (Expert)
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09 February 2012 Dear Siddharth

In all above cases retention is to be calculated U/r 53(3).

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