Stock Transfer to /from Branches
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.
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
(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
Yes
which kind of impact you are talking about
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