Anybody please explain me what is Branch Transfer and its
implications with example.
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Answer Posted / b.padma kumar
Under VAT branch transfer is not taxable. But under Excise,
it is taxable. Because, as per excise laws, excise duty is
payable when goods are removed from factory. Sale is one
event where goods are removed. An invoice is prepared for
calculation of excise duty. Here Customers account is
debited and sales and duty accounts are credited. But when
goods are transfered to a branch for further sale, even then
an invoice is to be prepared for calculating excise duty, as
this is also removal of goods with in the meaning of excise
act. When actual sale takes place from branch again sales
entry is passed for collecting VAT. Thus sales account get
duplicated.
To over come this, first prepare sales entry for calculating
excise duty and preparing of the rule 11 invoice when goods
are transfered to branches. On the same day reverse this
entry with only the sale value and not duty value. If you
are using Tally software, this reversal is only to change
the godown - From excisable godown to some other location.
When actual sale takes place show that the goods are removed
from that godown and not from excise godown.
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