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Stock Transfer to /from Branches

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This query is : Resolved

Laxmi Narayana Sahu (Querist)

06 December 2007 Back ground:
1.A pvt ltd Company having its Head office in Mumbai with MVAT & CST Registration.
2.It has Branches at New Delhi & Kolkata having the respective VAT & CST Registration.
Query:
1.Goods purchased by the local branch at delhi send to head office under F Form .
- when goods purchased locally it is eligible for VAT input for sales made at delhi branch,but will it eligible for input tax credit on goods purchased locally in delhi & the same stock has been tranfered under form F to the Head Office,even if no sale has been made at delhi branch
- The goods transferred from the branch is to be sold lyving the local VAT where output tax is to be generated & paid to maharastra government.
- Is there any taxation impact on the above transactions.

KAUSTUBH M JOSHI

KAUSTUBH M JOSHI (Expert)

13 December 2007 Tax paid on purchases from delhi cannot be set off against sales made in Maharashtra
Yes
which kind of impact you are talking about

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