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May 2012

Rate of reduction in set-off in case of branch transfer — Notification No. VAT-1512/CR-43/ Taxation-1, dated 31-3-2012.

By Tarun Ghia, Brijesh Cholera, Pratik Mehta, Chartered Accountants
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From 1st April, 2012 in case of branch transfer that when goods are transferred from Maharashtra State to branch in other State then the set-off on the corresponding purchase of taxable goods will be reduced by 4% as against 2% till then.

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