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One rupee billing

(Querist) 28 May 2013 This query is : Resolved 
Vat rule for one rupee billing against defective material sending back for replacement
Sudhir Kumar, Advocate (Expert) 28 May 2013
what are facts
joby jose (Querist) 29 May 2013
Dear Sir,
Kindly Advice the legal validity of below transaction.
We have received one chasis for Warranty replacement as stock transfer from Mumbai branch against F from and the value of material will come Rs.2000.00 but in stock transfer invoice it is mention only Rs.1.00, the defective chasis will send back to HO as stock transfer against F from for replacement from vendor . Now Walayar check post seized the material for non commercial value declared


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