what is sales in transit ?
This query is : Resolved
30 January 2012
Sir please clear the concept of sales in Transit and also tell me why cst or other tax is not imposed on a bill of sales in transit .
Sir please clear the concept of sales in Transit and also tell me why cst or other tax is not imposed on a bill of sales in transit .
30 January 2012
Sales in transit which means
1. Selling the goods by the buyer before reaching the same to the buyer
2. Buyer instructing the seller to deliver the goods to the some other person (who is the buyer for the buyer)
Sale in transit also taxable based on the transaction either in VAT or in CST
1. Selling the goods by the buyer before reaching the same to the buyer
2. Buyer instructing the seller to deliver the goods to the some other person (who is the buyer for the buyer)
Sale in transit also taxable based on the transaction either in VAT or in CST
31 January 2012
Agreed with the expert and sale in transit is taxable as per VAT / CST Act
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Tds on building rent monthly
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
