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TMI BlogInter state stock transferX X X X Extracts X X X X X X X X Extracts X X X X ..... Sir, What will be the treatment of GST in case of inter state stock transfer to depot of same company. Since it is without consideration and actual sale with consideration will be from other depot. Can the party value it as zero and prepare tax invoice with no gst. Of course the recipient deposit will not get any ITC. Further the supply includes promotional supply also . Need suggestion on th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is. - Reply By Rajagopalan Ranganathan - The Reply = Sir, Since recipient (factory/depot) with the same PAN Number is eligible to take ITC of the tax paid the value declare in the invoice issued by the supplier (factory/depot) is the transaction value under rule 28 of CGST Rules, 2017 . You cannot supply the goods at zero value without payment of tax. - Reply By KASTURI SETHI - The Reply ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... = Yes. I agree with Sh.Ranganathan, Sir. There is no such provision in GST laws. - Reply By Shilpi Jain - The Reply = Agree with our experts. Also consider valuing it in such a way that credit is moved to the other State which can be used on further sale and it does not become an accumulation without being used at the supplying State. Inclusion of promotional items would not change the answe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r though the manner in which this is supplied can indicate what would be the taxability of credit reversal, if any required on sale by the recipient depot. - Reply By Amresh kumar - The Reply = Dear All respected Sir/ Madam, Thanks for support. In case of inter state stock transfer assessee is at liberty to value the goods under the second Proviso to Rule 28 of the CGST Rules 2017 that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... means what ever value is declared has to be accepted which was not in the Excise regime I agree that valuation shall be done in a manner that ITC is moved on from the supplyer to Depot to avail ITC. If the Value is Zero than also as per my view it is correct but the Depot will not get any ITC benefit. Correct me if I am wrong. Regards Amresh Kumar - Reply By Ganeshan Kalyani - The R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eply = If the receiving unit is able to take ITC then any value is fine. But for that you need to value the product with any amount but not as zero. - Reply By YAGAY andSUN - The Reply = Under the provisions of GST Laws, Stock Transfer Transactions are not recognized. If goods are being delivered within the same company's (having the same GSTIN) within the same State, then no GST will be p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ayable and goods will be delivered on a Delivery Challan. If goods are being delivered interstate then applicable rate of tax under the provisions of GST Laws will be applicable and Tax Invoice will be issued along with E-Way Bill. - Reply By KASTURI SETHI - The Reply = M/s.Yagay And Sun, Dear Sir, You have given finishing touch to the issue. Thanks a lot for your contribution. - Inter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... state stock transfer - Query Started By: - Amresh kumar Dated:- 18-2-2021 Goods and Services Tax - GST - Got 7 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.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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