Regarding Stock Transfer
Query (Issue) Started By: – Rahul Gupta Dated:- 4-7-2017 Last Reply Date:- 9-7-2017 Goods and Services Tax – GST
Got 6 Replies
GST
Hi
We are operating a branch of our business 25 kms away from our head office, under the same GSTIN. We used to do stock transfers on a daily basis to this branch. Instead of an invoice a stock transfer challan was issued along with the goods and no tax was levied.
We are concerned that whether these stocks will be taxable under the new GST structure? The reply we have been getting everywhere is that these intrastate stock transfers are not taxable under the new tax structure if the branches are operated under the same GSTIN. But noone has mentioned the exact Article numbe
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Gupta:
The Reply:
Ty for your reply. Our branch is located within state. The problem is that we don't know the exact article wherein it is stated that no tax will be levied on stock transfers within state if the branches are operating on the same GSTIN.
We have to do the necessary modifications in our software program and are unsure how to go about it.
Reply By KASTURI SETHI:
The Reply:
Reply posted by me is also applicable to stock transfers within State. Stock transfers within same State from factory to depot or branch offices or one branch office to an other branch are called 'supplies' in GST and are not exempted even without consideration under GST because such supply is in course of or for furtherance of business.. De
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