Input Credit on Branch Transfers

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nput Credit on Branch Transfers<br> Query (Issue) Started By: - Ramchander Rao Proddatoori Dated:- 20-9-2014 Last Reply Date:- 23-9-2014 VAT + CST<br>Got 2 Replies<br>VAT / Sales Tax<br>Dear Sir, De....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....aler X is Purchasing Goods in the State of Tamilnadu and paying VAT &#64; 5&#37; on his purchases. He is using the goods for manufacturing purposes. He is selling finished goods i.e. Taxable Sales in ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Tamilnadu and also sending some goods to his branches outside Tamilnadu. His Branch Transfers are supported by Form F issued by the Branch outside Tamilnadu. Whether the dealer is eligible for input....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Tax Credit. Reply By Pradeep Khatri: The Reply: You can avail the Input Tax credit provided you must reverse proportionate ITC on the Stock Transfer as per the provisions of TNVAT Act read with Rule....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s made thereunder. Reply By Madhukar N Hiregange: The Reply: There is a provision for partial rebating which needs to be examined and to the extent of that credit cannot be availed or reversed. exam....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ple Normal rate 5 &#37; - PR = 2&#37; then only 3&#37; credit can be availed.<br> Discussion Forum - Knowledge Sharing ....