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Tax treatment

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(Querist)
15 February 2014 If a company purchases goods @ 4 % vat and transfer such goods to its branch at some other state(branch transer) against form'F' and branch further sells the goods..In this case what shall be the tax scenario as it is in the case of reversal & how the credit of tax will be utilized??
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Vishnu Saboo

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Vishnu Saboo (Expert)
17 February 2014 if company bought material and send it to branch transfer, then @ 4% tax to be reversed.
refer ur state VAT act, there must be provision of same in ITC section.
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