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 ?
Menu
How to caluclate retention amount in f-form sales
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
Recent Threads
- AY2025-26 ITR-3 has been added now to the Common O
- Request for Advice on Housing Loan Tax Benefit Eli
- Contest Time barred ADT-02
- Form 26QB error, how to claim refund
- Turnover limit for goods & service
- Conversion of old B2Cs invoices to B2B
- Tax implications on brokerage
- Showing f&O loss and intraday profit in ITR
- REBATE RECEIVED FROM FOREIGN PARTY AFTER MAKING PA
- How to fill in csv file for Schedule 112A
Related Threads
CAclubindia
