Reversal on Form F is required

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....eversal on Form F is required<br> Query (Issue) Started By: - jeyakumar c Dated:- 18-11-2014 Last Reply Date:- 22-11-2014 VAT + CST<br>Got 3 Replies<br>VAT / Sales Tax<br>Dear Team, I have a query, ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....how to calculate reversal against form F ( Stock Transfer ). Is this reversal is required for assessment. If yeas where to show this figure in form. Regards Jeyakumar Reply By Pradeep Khatri: The R....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....eply: Dear Jeyakumar C, You would have to reverse ITC in excess of 2&#37; or as per the formula as mentioned in TNVAT Act. Yes, reversal is mandatory in case of transferring of stock under CST Act. ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....There is no requirement to mention this amount on the Form F rather it would be mentioned in the Statutory Returns. Regards YAGAY and SUN (Management, Business and Indirect Tax Consultants) Reply....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... By LAKSHMI NARAYANAN TR: The Reply: W.e.f 11.11.2013 ITC upto 5&#37; are to be reversed in case of Stock Transfer under Sec 19(4) of TNVAT Act. Prior to 11.11.2013 it was 3&#37;. Reply By jeyakumar....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... c: The Reply: Thank you Sir...<br> Discussion Forum - Knowledge Sharing ....