Please guide on the various direct and indirect tax compliances when fixed assets are shifted from one state to another state in India within same Company/firm- specifically taxes like excise and CST/VAT.
Please guide on the various direct and indirect tax compliances when fixed assets are shifted from one state to another state in India within same Company/firm- specifically taxes like excise and CST/VAT.
With regards to CST and VAT since it is transfer between branches of same company situated in different place no CST and VAT is applicable.
As for as Excise is concerned if any credit of excise as been availed when asset was purchased same needs to be reversed - General Rule. There are exception for whcih please go through cenvat credit rule 2004.
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