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ITC reversal-TNVAT, Value Added Tax - VAT-CST

Issue Id: - 106865
Dated: 2-6-2014
By:- yash arya
ITC reversal-TNVAT

  • Contents

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

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1 Dated: 2-1-2016

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


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