Dear Sir,
I am a VAT registered dealer from bangalore city, and I have obtained IEC code from DGFT, bangalore. I have imported a commodity and it has landed at my nearest port - chennai port.
I have opened a branch of the same company in chennai and I want to make local sales at chennai city. Can I make invoice from bangalore firm for interstate stock transfer to chennai branch against Form F, and can I assume that I dont have to pay CST of 2%?
I'd really appreciate anyone's help here ....
if the branch is at chennai and goods are imported at chennai itself ( not transfered to bangalore) then get vat registration at chennai and sale as per chennai vat rules, for interstate transfer physical movement is required.
Dear Sir,
I Thank you for your reply.
after i have imported the commodity to chennai and sold half of the commodity in chennai branch as per TN VAT rate then can i transfer remaining half of the commodity to bangalore branch as interstate stock transfer b/w branches against form F?
there is no bar on interstate transfer, you can do it
CAclubindia
