ITC on goods purcahsed locally and transfered to branches

Nitesh Bhandari (Ca Finalist Articled Trainee)   (93 Points)

25 June 2010  

Hello All,

My query is w.r.t. TNVAT

Suppose a person has a HO @ Chennai and purchases goods locally from registered dealers and proper Vat bills and thereafter he transfers the goods to other state (Say Kerela) to his branch and thereafter the goods (Form F) are sold in kerala. Can HO claim the input and is there any restriction on the % of input i.e., maximum of 4 or 12.5%


Thanks In advance