17 November 2013
Dear Experts my query is that if a seller did not receive C Forms for its Interstate sales and hence make payment to sales Tax Department as per local sales tax applicable but later it receive C forms from the concerned purchasers then how can it get refund (or set off) of excess CST which it paid when C form was not available to it?
For example MVAT=12.5% CST=2% but since C form was not given by concerned purchasers hence seller paid sales tax @ 12.5%. Now when C form is given by concerned purchasers then how can it get refund (or set off) of 10.5%(12.5%-2%).
17 November 2013
If time period is not lapsed, the return can be revised, claiming excess as c/f. Date of sale invoice, whether tax was separately charged/rate, in bill details are not given.
CAclubindia
