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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 ..... Dear Experts, One of our client have received stock transfer from their head office located in mumbai. And they are selling these goods within tamilnadu lesser than the value what they 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 Trans ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fer 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 that, 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 compa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... red 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 suitable 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 kno ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wledge 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 higher 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 FACTORY , 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 BA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... SED ON MARKET DRIVEN FACTOR REGARDS CA KC SINGHAL - goods sold less than the stock inward from the other states - Query Started By: - THYAGARAJAN KALYANASUNDARAM Dated:- 23-6-2015 Value Added Tax - VAT-CST - Got 2 Replies - VAT and Sales Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanage ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mentindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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