Transfer of address of company

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CA Kunjan - www.canaresh.com (Querist)
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01 December 2014 if a small pvt.ltd. company moves its registered address from maharashtra to delhi and shifts its stock, is the stock movement liable to mvat or cst?

regards, ca kunjan, kunjan@canaresh.com

Amol S Joglekar

Amol S Joglekar (Expert)
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01 December 2014 No, MVAT and CST is not applicable.It is a stock transfer from ABC ltd Maharashtra to ABC ltd New Delhi.

CA Kunjan - www.canaresh.com

CA Kunjan - www.canaresh.com (Querist)
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01 December 2014 Thanks, so I think, nothing to show in mvat return for this transfer. Just slowly amend or cancel certificate I guess?

Amol S Joglekar

Amol S Joglekar (Expert)
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02 December 2014 Yes, cancell MVAT and get registered at Delhi

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MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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02 December 2014 Mr Kunjan and Joglekar,Pl note : A problem arises in this situation.If ITC was claimed on the stock held at the time of cancellation of registration in Maharashtra it has to be reversed.This reversal can be done in the last return to be filed before closure of business.Under one alternative this problem can be minimised. Before the closing of business in Mumbai open a branch in Delhi,transfer all the stock from Mumbai to this place.In this case you have to reverse 2% of the input tax only.In Maharashtra before closing your business you have to file all returns,file a final account(P&L A/c and Balance sheet)and then file an application for closure.There should be no arrears or pending proceedings in the offices or Court. Then, the RC will be easily cancelled.....mjk

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Amol S Joglekar

Amol S Joglekar (Expert)
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03 December 2014 Thank you MJK.
Appreciate your clarification for the same.

CA Kunjan - www.canaresh.com

CA Kunjan - www.canaresh.com (Querist)
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09 December 2014 ok. u mean, f form involves reversal of itc claimed on goods transferred?

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