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How to caluclate retention amount in f-form sales

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we are manufacturing company in maharastra and we purchase raw material on ongoing basis and after making finished goods we transfer it with profit to other branch at delhi with f-form and and we don't now from which raw material it was produce how can i calculate the amount of retention for vat computation ?

Replies (1)
Hi, As per rules, a proportionate ITC availed shall be reversed for stock transfer out to other states. This can be calculated as [(ITC taken)*(stock transfer out against F form)]/[(stock transfer out against F form)+(Local Sales (gross value))+(CST Sales(gross value))+(Export)] Hence, out of total ITC taken in the tax period proportionate tax credit on stock transfer shall be reversed. Thanks, Swati


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