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Dear All |
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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. |
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
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)]:
CAclubindia
