VAT SURRENDER FORMULA FOR STOCK TRANSFER IN UTTER PRADESH

[Guest]

What is the VAT Surrender Formula under UP Commercial Tax with details complete breakup of purchases , sales to be used in formula.

[YAGAY and SUN]

Dear Ramappa,

Please check Rule 22(3) of the UPVAT Rules, 2008 in this regard.

Team YAGAY & SUN

(Management & Indirect Tax Consultants)

AI Summary

VAT surrender formula requires applying Rule 22(3) of UPVAT Rules for stock transfers with purchase and sales breakup. The VAT surrender formula for stock transfers in Uttar Pradesh requires a detailed breakup of purchases and sales to compute taxable turnover for surrender; the applicable regulatory direction is contained in Rule 22(3) of the UPVAT Rules, 2008, which prescribes the mechanism and particulars to be used in the surrender calculation.