Anybody please explain me what is Branch Transfer and its
implications with example.
- 3 Answers
- 15843 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / b.padma kumar
Under VAT branch transfer is not taxable. But under Excise,
it is taxable. Because, as per excise laws, excise duty is
payable when goods are removed from factory. Sale is one
event where goods are removed. An invoice is prepared for
calculation of excise duty. Here Customers account is
debited and sales and duty accounts are credited. But when
goods are transfered to a branch for further sale, even then
an invoice is to be prepared for calculating excise duty, as
this is also removal of goods with in the meaning of excise
act. When actual sale takes place from branch again sales
entry is passed for collecting VAT. Thus sales account get
duplicated.
To over come this, first prepare sales entry for calculating
excise duty and preparing of the rule 11 invoice when goods
are transfered to branches. On the same day reverse this
entry with only the sale value and not duty value. If you
are using Tally software, this reversal is only to change
the godown - From excisable godown to some other location.
When actual sale takes place show that the goods are removed
from that godown and not from excise godown.
| Is This Answer Correct ? | 23 Yes | 6 No |
Answer / vaishali k.
in simple language branch transfer means the business
related material transfer to another branch
for ex.transfer all the material new mondha godown to nirala
bazaar godown
and taxes allowed as per senerio
| Is This Answer Correct ? | 4 Yes | 1 No |
Answer / praphul asthana
whean we manufactur of any goods in our manufactur unit and
whean transfer in our branch at time only charge excise tax
and ed.cess and SHE. and no charges any other tax.
Excise charges whean removel goods in factory gate.and no
charges any Sales tax At time We Used Form-F branch
transfar case.
| Is This Answer Correct ? | 6 Yes | 4 No |
One of my party i.e. ABC (prop. firm) is providing repairing/alteration service relating to Comm. Construction.. (not new construction), they have provided a repairing/alteration service to one co-op. bank...i.e. XYZ………. At the time of audit by central excise dept., officers has asked/directed to bank to pay the service tax by the ABC (for year 07-08 & 08-09)..... Now, my question is …..:Is my Party ABC liable to pay the service tax ?
What are the new threshold limits put in the parliment under New tax code recently for Men, Women and Senior Citizens
Definitions of paid up capital ,authorized capital ,issued capital ,share capital
What is VAt ?
sir, i have charged labour charges with material bill to x party for Rs.211000/- plz explain me how much TDS amount will deducte by party..
how to enter annual maintenance service bill in account?
what is the vat & cst rate with cst and without c form. TDS on salary how to deposti and which challan use for this
Can we pay advance salary to a single employee in cash of an amount exceeding 10,000?
WHAT IS TIN
what is rate of different service tax in haryana
Why the goverment give tax reduction benifit when purchase and sales from one state to another state under 'C' form ?
EXPLAIN ABOUT TDS?
Audit 
