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TMI Bloggoods sold less than the stock inward from the other statesX X X X Extracts X X X X X X X X Extracts X X X X ..... goods sold less than the stock inward from the other states X X X X Extracts X X X X X X X X Extracts X X X X ..... have received. After they are receiving the goods to branch in tamilnadu. Based on the quantity and as per their head office instructions they are selling these goods various customers. Based on the Stock Transfer Inward the branch has to issue form F to their Head Office Full value i.e. Inward Value. While doing so the sales tax enforcement wing came their premises for inspection and stating tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t, being the sales value is lesser than stock inward value and the authority concerned calculate the trading account. In that, they have made sales value (-) 10% G.P. i.e. cost of purchase worked out and compared with physical stock. Obviously the difference will come. Now, they have treated as sales suppression and made it for higher rate of tax with penalty. Can u any one provide me any suitabl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e case law to contend the assessment order. Now, they are preferred for an appeal. With regards, K. Thyagarajan. Reply By Rama Krishana: The Reply: As per cursory view of the issue with common knowledge the action of the department is not valid. As per the provisions of the CST to the extend I am able to recall from my memory, there is to restriction or condition that goods must be sold on hi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gher price that the price of such stock transfer. If I am not correct, please correct me. Further, as per the local tax provisions, the question would depend upon the facts and circumstances in which you must be able to prove that sale is at arm's length and free from undervaluation. Reply By kailash singhal: The Reply: d/s IT HAPPENS ALWAYS WHEN GOODS LIKE BASE METAL DISPATCHED FROM FACT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ORY ,
CHARGE HIGHER RATE FOR CENTRAL EXCISE VALUATION PURPOSES SO SHOULD NOT FACE ANY PROBLEM IN FUTURE .
ALSO PROSPECTIVE BUYER CAN CLAIM FULL AMOUNT OF CENTRAL EXCISE
SALES PRICE ALWAYS BASED ON MARKET DRIVEN FACTOR
REGARDS
CA KC SINGHAL X X X X Extracts X X X X X X X X Extracts X X X X
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