https://www.taxtmi.com/article/detailed?id=5415 Introduction of a single point of taxation shifts tax to the first point of sale-manufacturer or first importer-by notifications under section 8(3), making first-stage taxation mandatory and rendering subsequent sales tax free only where first-stage tax has been paid. Stock on the cut-off that already bore first-stage tax will qualify as tax free thereafter; stock purchased from outside the State that will be sold at first stage becomes taxable. Rule 21(4) requires reversal of input tax credit on goods becoming tax free, and no declaration form has been prescribed to evidence first-stage payment. en-us Wed, 01 Jan 2014 12:47:48 +0530 Thu, 31 Jul 2025 16:50:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5415 Introduction of a single point of taxation shifts tax to the first point of sale-manufacturer or first importer-by notifications under section 8(3), making first-stage taxation mandatory and rendering subsequent sales tax free only where first-stage tax has been paid. Stock on the cut-off that already bore first-stage tax will qualify as tax free thereafter; stock purchased from outside the State that will be sold at first stage becomes taxable. Rule 21(4) requires reversal of input tax credit on goods becoming tax free, and no declaration form has been prescribed to evidence first-stage payment. Articles Value Added Tax - VAT and CST Wed, 01 Jan 2014 12:47:48 +0530 https://www.taxtmi.com/article/detailed?id=5415