Local purchase input credit on same stock transfer to branch

8984 views 7 replies

 

Dear All

suppose if company A Purchased Rs. 10000 goods + 10 % vat = Rs. 1000 input vat and same goods

transfer to its Branch B in Haryana than we have to reverse 2 % tax and balance 8 % we can take input

credit. Am I right? Will input credit available proportion to stock transfer and secondly if it will be than what will be accounting entry to reverse this 2 % tax.

 

 

Replies (7)

first of all if u send goods to a outside state to ur branch ,then no need to charge cst if it is against the F FORM.FURTHER IF IS A SALE ,THEN U CAN TAKE THE INPUT CREDIT OF VAT TO ADJUST THE CST LIABILITY,BUT INPUT CST CANT BE ADJUSTED WITH OUTPUT VAT

 

hey first read query and than answer it I am not saying for any input cst adjustment with vat. I am asking

that I read in books if you purchased any guds with input vat and same amount goods u transferred to

your branch than 2 % as cst will be reversal from your input credit vat whether u give form F or not

 

 

what u wanna to proof i didnt get

first i said as ur querry is

& secondly u r not paying me anything ,u r just asking in a forum ,so be normal dont aggresive in ur words

hope u r not a professional,unless its a shame on u

your knowledge proof yourself that what you are getting CCI Score you are still on 100 so don't fly in air..

so my f**k,get lost,u believe in scores & i believe in potencial ,i m sure u r not a professional at all

Yes ! You can take credit  of Input VAT by deducting 2% of VAT

for e.g

your purchased goods 10000 + vat 500

sold to branch agst F form  10000

2% of Invoice (Rs 200) will be Tax Credit disallowed in respect of Stock Transfer out of Delhi [Section 10(3)]:

 

 

Yes i m not professional that is why i asked question on cci and u could not give answer but deepak sir gave answe bc he is professional and not u...

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