I have a practicle problem
If a company purchase good from Delhi and claim Input tax Credit for an amount 5000 ( at 5% )
Then it trasnfer the goods against F form to it's branch .
What will be the amount of Credit that is needed to reversed , will this be the same amount which it claimed ie rs.5000 or only 2 % ie 2000 .
Can someone tell me how the reversal works here. .
In which rule or Section it is given.
CAclubindia
