Reversal of input tax credit in delhi

 

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.

 

 

Replies (1)
You have to reverse Rs. 5000.Whole amount of ITC claimed on goods that are to be stock transferred is to be reversed.

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