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Branch transfer

Bhavesh (Accounts) (899 Points)

11 October 2011

How the Branch Transfer is to be considered in VAT

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2 Replies

ANUP GUPTA (KEEP SMILING fcaanupgupta@gmail.com) (303 Points)
Replied 11 October 2011

Stock t/f to branch i.e., branch transfer is not considered as sale therefore not liable to vat but there is some restriction on credit of input of such stock. Generally itc is subject to retention of 2% out of total input on such stock.

Harshal Fifadra (Chartered Accountant) (1489 Points)
Replied 19 October 2011

Stock Transfer is not considered as a SALE provided the FORM F is provided to the issuer of stock by the reciever of stock . If in case FORM F is not provided then VAT / CST becomes applicable .