Answer / ved prakash verma

RITC is reverse input tax credit its calculation as under

step 1.consignment sale of branch transfer divided by total sale multiplied by 100
step 2. tax invoice purchase within state multiplied by %of step 1

step.3 amount of step.2 X 4%
example-
value of branch transfer Rs.50000/- Local sales value is Rs.25000/- total sales b/t and L.S is Rs.50000+15000=75000
tax invoice purchase(within state) Rs.60000/-

step.1 50000/75000*100=66.67%
step.2 60000*66.67/100=40002
step.3 40002*4% hence RITC Rs.1600/-

WHAT SHOULD I DO IF TDS IS YET TO BE DEPOSITED BUT PERTAINS TO MAR,09 (LAST FY) THE THING IS THAT ACTULLY BILL WAS RAISED FOR THE M/O MARCH 09 IN MAY09. AS THE BILL PERTAINS TO LAST FY YEAR AND LAST DATE FOR TDS RETURN HAS GONE 15.06.09. WHAT ARE THE SOLUTIONS PLS HELP ME OUT

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