Dear Sirs,
I am consignment agent for an fmcg company, I am getting products from my parent company as Stock transfer and i am issuing Form F for that, In turn I am sending the products to my branches as stock transfer, all my branches are paying the amount for products directly to my Parent company (not in our account the agreement is like that between me and the company), after selling the products they will send sales report to our Parent company and they will pay the taxes from their bank account to sales tax department on our behalf, please clarify me who is responsible for the Sales Tax for the outstanding stocks (not sold or not invoiced) please help me.
FMCG consignment agent seeks clarity on sales tax for unsold stock; tax liability linked to goods movement and Form F. A consignment agent for an FMCG company inquires about sales tax responsibility for unsold or uninvoiced stock. The agent receives stock transfers from a parent company and sends them to branches, which pay the parent company directly. The parent company handles tax payments. One respondent clarifies that no sales tax is due on unsold stock. Another suggests considering the concept of preconceived sales, which is dismissed by another respondent due to the internal nature of the transactions. It is emphasized that tax liabilities arise from the movement of goods and require statutory Form F for tax rebate claims. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
