Reversal of ITC

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..... Reversal of ITC
Query (Issue) Started By: - RajeshKumar C Dated:- 27-2-2019 VAT + CST
VAT / Sales Tax
Dear All, Dealer registered under Tamilnadu VAT Act has received notice from assessmen .....

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..... t 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 .....

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..... ITC 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 don .....

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..... e only for goods which are locally purchased by the dealer and not entirely. Also, any precedents on this will help! Thanks.
Discussion Forum - Knowledge Sharing .....

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