Treated as sale or stock transfer
This query is : Resolved
15 December 2010
If an assessee has 2 business and one of them dealing in sale of a commodity and other is hiring the same commodity and some of the goods from Business1 tansherred to business 2 for hiring. Is it a stock transfer or sale and what is its treatment? Whether the assessee is required to be registered business 2 as branch under VAT Authority ? Whether cst will be charged or not?
15 December 2010
commodity ones hired cannot be sold again, so it will be transferred in assets.
Under VAT you have to show that items has been capitalized in books of account, there is no need to open a new branch.
Under VAT you have to show that items has been capitalized in books of account, there is no need to open a new branch.
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