TaxTMI 
TaxTMI 
Reversal of ITC
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....eversal of ITC<br> Query (Issue) Started By: - RajeshKumar C Dated:- 27-2-2019 VAT + CST<br>VAT / Sales Tax<br>Dear All, Dealer registered under Tamilnadu VAT Act has received notice from assessment....
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.... circle proposing them to reverse ITC on goods stock transferred to other States, under Section 19(4) of TNVAT Act. While provisions exist for reversal @ 5%, stand taken by the department to reverse I....
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....TC on entire amount (not only locally purchased goods, which are stock transferred) appears to be incorrect. I request views/Circulars/Case laws which support this view that ITC reversal is to be done....
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.... only for goods which are locally purchased by the dealer and not entirely. Also, any precedents on this will help! Thanks.<br> Discussion Forum - Knowledge Sharing ....