Tax treatment
Reshma Golani (student) (190 Points)
16 February 2014Reshma Golani (student) (190 Points)
16 February 2014
prakash
(student)
(21 Points)
Replied 16 February 2014
Reshma Golani
(student)
(190 Points)
Replied 16 February 2014
K S JOLLY
(CA)
(369 Points)
Replied 16 February 2014
Mrunmayee Limaye
(Article)
(32 Points)
Replied 17 February 2014
Input tax credit of VAT on stock transfer can be availed after retention of 2%.... Hence even though the tax is paid @ 4% ITC can be availed only @ 2% (i.e. 4% - 2% retention).... Hope this helps.....
Reshma Golani
(student)
(190 Points)
Replied 17 February 2014
Mrinal Singh
(student)
(60 Points)
Replied 17 February 2014
Input tax credit in such cases(branch transfer ,stock transfer to any other state) will available in excess of 2% of tax paid on such purchase,.
Because on inter sate purchase CST paid (which is 2%) is not eligible for ITC.