ITC reversal-TNVAT, VAT + CST

[yash arya]

Under Sec.19(4)  0f  TNVAT Act, it requires reversal of ITC  upto 5 percent in respect of transfer of goods interstate for resale or manufacturing.  Kindly clarify if this provision is applicable for the  goods listed in Part A of First Schedule where vat rate applicable is 1 percent , say, semi-finished diamond jewellary items sent to Branch in other state for finishing process. 

- shekar r

Posts / Replies

[MARIAPPAN GOVINDARAJAN]

Whether you have got clarified in the above issue? If not please inform.