How to maintain accounts on stock transfer entries

Others 816 views 1 replies
i am working in Jewelries located in Pondy (pudhucherry). our branches located within the town. Here we do stock transfer between branches and HO. On these case does the accounts to be maintained in branch as well in HO. Kindly suggest a best solution.
Replies (1)
1. All stock transfers are not sales. Hence you should not recognise any revenue on such transfer. 2. You need to maintain inward and outward registers, DC for different locations with unique DC numbers. 3.Once you raise an invoice i.e, effect sale from any depot / branch you need to recognise the sale by raising a Tax invoice. 4. Your stock at the respective branch gets reduced by the quantity shown in the Tax invoice. 5. You have to maintain the sales register at HO and also at branch. 6. Claim of input vat and discharging the tax liability remains same and you have to file the returns from HO if all the branches are with in the state. 7. For any branch out side the state, you have to file separate tax return for that state. 8. For transfers made to branches / godowns located outside your state, you have to obtain form F from your branch located out of the state. 9.F form has to be obtained for stock transfer value declared in the stock transfer invoice.


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