Vat on sale

220 views 2 replies

Md. Abdul Kalam

CEO

553 Points Joined June 2012

Dear Experts we 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 of two different states. 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 (2)

pawan poonia

56 Points Joined June 2016

IF YOU TRANSFEER GOODS FROM HO TO BRANCH THEN TEHE WILL BE NO TAX LIABILITY EXCEPT ENTERY TAX THAT LEVIED BY SOME STATE @ 1% . BUT FOR BRANCH TRANSFER GOODS YOU NEEDED FORM F FOR WHICH F FRROM RETURN IS FILLED ON SALES TAX SITE. WHEN YOU SOLD GOOD FROM BRANCH TO OTHER PARTY THEN YOU NEEDED TO PAY VAT ON THE SAME. YOU CAN ADJUST ONLY INPUT TAX ONLY WHEN YOU PURCHASE THE GOODS FROM REGISTERED DEALER IN SAME STATE. IN YOUR CASE YOU CAN NOT ADJUST INPUT VAT,.

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