vat on methanol transferred as stock to sister units
This query is : Resolved
05 October 2009
If a cocern transfer methanol as stock transfer to its sister concern with in state which is captively consumed by sister unit for manufacturing of Urea which is exempted from VAT. May please clarify whether VAT is chargeable on Methanol transfer
Vishnu Saboo
(Expert)
05 October 2009
SAME ENTITY CAN'T SALE TO ITSELF.
YOU ARE REQUIRED TO REVERSAL VAT CREDIT, IF FINAL OUTPUT IS NOT TAXABLE.
YOU ARE REQUIRED TO REVERSAL VAT CREDIT, IF FINAL OUTPUT IS NOT TAXABLE.
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