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VAT CREDIT

This query is : Resolved 

COULD IT MAY POSSIBLE AS TO TAKE VAT CREDIT WITH OUT PAYING PURCHAGE TAX IN ACTUALLY WHEN IT IF EXEMPT.
IN A CONDITION WHEN ONE HEAD OFFICE SENT ITS BRANCH OFFICE SOME GOOD AGAINST BRANCH TRANCFER (F FORM) SUBSEQUENTLY IT IS SELL TO ANOTHER REGISTER DEALER BY CHARGING 4% TA HERE MY QST IS COULD IT BE POSSIBLE FOR BRANCH TO GO VAT CREDIT .
THIS QUESTION IS ASKED TO ME BY CA IN ONE COMPANY INTERVIEW

NO MODIFY

NO MODIFY

LL

Hi,
the branch transfer against Form F is an interstate sale, & VAT Credit cannot be taken from the branch

THE BASIC OF GETTING ANY ITC IS THAT SOME ONE HAS PAID THE TAX ON PURCHASES IN THE SAME STATE.



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