Tax on C & F Stock Transfer

Querist : Anonymous (Querist) 19 May 2010 This query is : Resolved

Dear Sir I am A c & F agent in UP and my stock comes from delhi, it is the stock transfer not the purchase, I have to issue a form 38 for every stock transfer from delhi and after that i surrender the form 38 in local sales tax office with transfer memos.

Now i have to submit my monthly return and i will fill the form 24b for the sold items, but how to declare my stock transfer in form 24A coz it was a stok transfer and tax will not charged on it,

Is any other form hv to submit with my return.

Please sujesst.....

Regards

Rahul Katiyar
09336853014

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sanjeev kumar goel (Expert) 15 August 2010
dear Mr. Katiyar, it's all right that there is no tax on stock transfer received from Delhi but its sale is taxable in U.P. and you have to declare your turnover and have to pay entire amount of tax as there is no ITC available on stock transfer.

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