Stock transfer

This query is : Resolved

Jatin (Querist)
Follow

06 April 2012 Dear Sirs,

we have a carpet manufacturing unit in Meerut U.P. & all our material produced is being exported via JNPT port Mumabi.Since Meerut is too far off from Mumabai the transportation charges against movement of containers from Meerut to Mumbai port is very high.Based on the analysis done we came to know that the transportation charges & packing charges can be considerably reduced if we transfer semi finished goods to our branch in Vapi Gujarat & thereafter finally finish,pack & dispatch it from Vapi to Mumbai port. So I request you to kindly clear my following queries inorder to proceed further in this case :-
Types of registrations required for branch office ?
Form required for transfer of goods ?
Various excise & Sales Tax documents required to be prepared ?
How the accounting of branch will be done?

Hope you will give the solutions

Jatin

Kishor Darole

Kishor Darole (Expert)
Follow

06 April 2012 Dear Jatin,

There is no need to transfer semi-finish goods to Vapi & re-pack. You can directly transfer packed finished goods to Vapi branch office/warehouse and from Vapi to Export to JNPT. This sale will be called as a Stock Tranfer to goods on payment of duty. The selling price should be a transaction value i.e. @ nearest rate.

Now the proces is, You need to apply for registration to Excise for Trading warehouse License (Depo sale) also to Sales tax.

At Vapi warehouse, you need to maintain RG-23 D register for receipt and sales activity and a quarterly return needs to submitted to Excise.

For any explaination, please do write back.

Regards
Kishor Darole

Message likes : 1 times

Jatin

Jatin (Querist)
Follow

06 April 2012 Thank U Sir for providing such a valuable information.Since we want to save on packing material also which is cheap in Vapi in comparison to Meerut. Can we perform final packing operations in Vapi & further export.Does this fall under stock transfer category ? Please give your opinion on this also.

Regards

Jatin

Kishor Darole

Kishor Darole (Expert)
Follow

09 April 2012 Dear Jatin,

Once you have taken Trading warehouse License, You can very well do the final Packing of the material in Vapi and further Export/ local sale.

Please note, Record keeping is must.
Excise Invoice will be raised under Rule 11, wherein receipting details will be shown in the Invoice and at the Top your sale value will appear.

Regards
Kishor Darole

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

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

Chnmaya parhi

NIKHIL GUPTA

Sabareesan S Venkatesh

Purav Dholakia

sinu kurian

Subscribe Now

Stock transfer

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

CA Final

Manager- Finance and Compliance

Accountant

Senior Executive

GST CONSULTANCY