Local purchase or interstate purchase
This query is : Resolved
11 April 2012
I have a shop and i have purchased goods to b
sold at my shop from a manufacturer in Punjab.I placed the order through his agent here.
The manufacturer shipped me the goods directly and billed me at CST 2% and Forwarding charges also.
Now should this purchase come under local Purchase (as I placed the order thru the agent) OR Interstate purchase when i file my VAT return
Please guide
sold at my shop from a manufacturer in Punjab.I placed the order through his agent here.
The manufacturer shipped me the goods directly and billed me at CST 2% and Forwarding charges also.
Now should this purchase come under local Purchase (as I placed the order thru the agent) OR Interstate purchase when i file my VAT return
Please guide
11 April 2012
Type of transaction depends on the bill, and delivery place.
In this case it will be OMS Purchase for u. as Bill includes CST and, goods have crossed the state.
In this case it will be OMS Purchase for u. as Bill includes CST and, goods have crossed the state.
11 April 2012
Thanx
What is OMS purchase and I did not give form C.
What is OMS purchase and I did not give form C.
11 April 2012
if you received bill with CST 2% then it will be consider as Interstate purchase
and if you don't give C Form to seller then you will have to pay local vat of seller state by debit note....
so please give C Form to your seller ASAP
and vat return due date, i think 20 to 22nd for March ended quarter or march for Monthly
and if you don't give C Form to seller then you will have to pay local vat of seller state by debit note....
so please give C Form to your seller ASAP
and vat return due date, i think 20 to 22nd for March ended quarter or march for Monthly
11 April 2012
Thanx for prompt reply.
I was not asked by the seller to give Form C.
As this is my first interstate purchase, where in the form do i show the tax paid for interstate purchase. Will this b shown only in Form 1, where?
I was not asked by the seller to give Form C.
As this is my first interstate purchase, where in the form do i show the tax paid for interstate purchase. Will this b shown only in Form 1, where?
11 April 2012
its not possible if seller forgot to asked then dept. will intimate him to pay difference tax ( local tax% - 2 CST)
11 April 2012
cst 2% is against C form otherwise cst 5% will applicable
if you dont have cst no then local vat will charge
you have to ask your seller whether they want c form or not after time lapsed you will have to paid local vat whichever applicable to your product
if you dont have cst no then local vat will charge
you have to ask your seller whether they want c form or not after time lapsed you will have to paid local vat whichever applicable to your product
11 April 2012
Thanx I will get in touch with seller regarding this. I have CST No.
where in the form do i show the tax I paid for interstate purchase
where in the form do i show the tax I paid for interstate purchase
11 April 2012
you can not take itc on interstate purchase so in your vat return it will so in purchase in gross value and deducted also so that local taxable will reflect but you have to file your cst annexure with seperate value of product & cst 2% tax
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13 April 2012
The goods that i purchased interstate are sold here (locally). So all this will come under local turnover. or do i have to show the sale of only these product under central turnover which is hardly Rs1000 only as i have not sold the entire goods that i purchased.
Please clarify
Please clarify
13 April 2012
yes,sold goods in state will come under local t.o. without taking itc of interstate purchase you have to calculate output tax less local input tax and pay the excess output
output tax = (local(sales)output + interstate sales)
its that ok what you have asked ?
output tax = (local(sales)output + interstate sales)
its that ok what you have asked ?
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