VAT on Interunit Transfers
This query is : Resolved
Yajuvendra Rawat
(Querist)
22 March 2010
Dear Sirs & Friends,
Our company is located in seepz (Mumbai). Sometimes we sale or purchase Raw materials inside seepz. This process is called as Interunit transfers. My question is are we supposed to levy MVAT on such goods sold or purchased in seepz. Please clarify the matter is urgent. I will be grateful if you help me.
Our company is located in seepz (Mumbai). Sometimes we sale or purchase Raw materials inside seepz. This process is called as Interunit transfers. My question is are we supposed to levy MVAT on such goods sold or purchased in seepz. Please clarify the matter is urgent. I will be grateful if you help me.
Vishnu Saboo
(Expert)
23 March 2010
if it is "interunit transfer", no sale tax would levy, as a same company can't sell to itself.
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