TaxTMI 
TaxTMI 
TAX LIABILITY
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....AX LIABILITY<br> Query (Issue) Started By: - SUBRAMANIAM MEENAKSHI SUNDARAM Dated:- 19-12-2015 Last Reply Date:- 24-12-2015 VAT + CST<br>Got 6 Replies<br>VAT / Sales Tax<br>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 m....
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....y 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 stock....
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....s (not sold or not invoiced) please help me. Reply By Ganeshan Kalyani: The Reply: Keeping other aspects aside, the answer to last sentence is that if there is no sales then there is no consideration received by you and therefore there is no sales tax payable. NO sales tax on outstanding stocks. Further from the query i understand your parent company can only pay the tax on behalf of the branche....
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....s. They have to file separate return and your branches should provided sales detail to you and you will compile the data with your stock transfer detail and file return. This is my view. Reply By MARIAPPAN GOVINDARAJAN: The Reply: I also endorse the view of Shri Ganeshan Kalyani. Reply By YAGAY AND SUN: The Reply: Please also consider the concept and principle of preconceived sales while tran....
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....sferring the stock to your other branches. Reply By Ganeshan Kalyani: The Reply: With due respect, I am of the view that preconceived sale concept is out of question here because the material is first received by consignment agent who is branch itself and subsequently the receiving branch again send the material to various branches again. Since customer is not the third party here and goods are n....
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....ot transferred after the order has been received from customer. I am of the view that preconceived may not apply. Reply By VIJAY THAKUR: The Reply: Dear Sir, All the goods movement and transfer from Head office to interstate branch, consignment agent of the company, after transfer goods and raw materials tax liabilities burn by the seller not Head office because all goods transfer against statut....
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....ory Form F these type transactions tax rebate claim after received of central act Form F issue from Sales Tax Department and after sign original/duplicate send to Head Office for tax rebate claim by the Head Office. In absence of Form F you will ready to burn and tax liability due max tax 10% or 12% as per act at the time of Head Office Sales Tax Assessment. No any excision of the CST. God bless ....
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....you, So many change in Dvat Act. Regards Vijay Thakur Reply By Ganeshan Kalyani: The Reply: 'Dvat' means Delhi Value Added Tax.<br> Discussion Forum - Knowledge Sharing ....