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Vat on sale
Dear Experts i need a help on tax on sale of goods. We have our head office in one city and we have a branch office in other city too. we have sold goods to our clients over which we have charged tax. That goods which we have sold had received from head office as branch transfer. Now i want to know that do we need to deposit all tax which we have charged on Bills(Tax Invoice) or there would be any Input Tax which would be deducted from Output Tax after that we should deposit remaining excess tax amount?
Plz answer as it is expected from you.
Thanks in advance..
Replies (3)
Please,
Mention that whether your head office and Branch is with in the same state or not.
Head office and Branch Office are in different states. We will also apply for F Form..
Sir,
In this case you will not able to take input credit of VAT paid on purchase of goods, which you transfer to your branch in another state and for settlement of VAT payment, which you will collected from sale from your branch i.e. in another state.
Becase you paid tax at the time of purchase of goods, then on branch transfer CST will not be applicable, if transfer is made against F form.
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