C form on sales invoice raised for purchase return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 May 2012 WHAT IS DIFF BETWEEN FOLL 2 TERMS?
1.Partnership firm registered under the indial pertnership act ,1930

or
.Partnership firm registered under the indial pertnership act ,1932

is it one & same?
or diff then in which way?

Querist : Anonymous

Querist : Anonymous (Querist)

15 May 2012 we purchase a machinery from mumbai against C form and the same was sold to a dealer at punjab.the dealer at punjab didnot find machine suitable and return back to us. we in turn also return to the dealer at mumbai from whom we purchased the machine. we made purchase return via raising an Invoice (being excsiable unit both purchaser and seller). we also reverse this sales invoice in our books as it was purchase return and not sale. as we did not demand c form from mumbai dealer,now at the time of assessement AO demanded c form otherwise he will charge the difference of tax, interest asnd penalty.

My question is whether we require c form for the purchase return (done through Sale Invoice)????

Thanks in advance :)

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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15 May 2012 You have to consider only Indian Partnership
Act 1932 only.
.

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RENGARAJ R.K

RENGARAJ R.K (Expert)
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21 August 2012 When the entire purchase is returned, there is no need to issue C form. Of course you must show the interstate purchase in the VAT return and also should have shown the purchase return also in the VAT return to prove the purchase is not effected.

Likewise, the inter state sale should have been shown in the VAT return and its sales return also.

Parties account also should show the debit and equivalent credit.