Cst

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 August 2012 Dear Experts

We made a CST Sale in FY 2011-12 without C form.

Now while collecting the money, the customer says, he will pay only 2% CST and will provide 'C' form.

What is the way out available to me.

Experts views are solicited.

RENGARAJ R.K

RENGARAJ R.K (Expert)
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09 August 2012 I hope the cst assessment for the year 2011-12 has not been completed by you. So, you have to file an annual return revising the taxable turnover 2% and taxable turnover without c form. At the time of assessment you have to submit the c form (now to be received from party)and claim the tax difference from the department.

So, to avoid this confusion, before effecting interstate sales, in the sale order confirmation be specific that the sale is against c form or not.

Querist : Anonymous

Querist : Anonymous (Querist)

09 August 2012 Thanks Mr. Rengaraj

For how many previous years can I revise my annual return to make these kind of changes.

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RENGARAJ R.K

RENGARAJ R.K (Expert)
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09 August 2012 There is a provision in every state VAT Act stating that even if the assessment order is received, if you receive the C form subsequently, you can submit the same before the A.O and request to issue the revised order reducing your tax liability and such excess paid can be adjusted against the current month tax dues.

If assessment is not yet taken for the previous year, you can keep ready the revised return and submit before assessment notice received from the dept for the earlier years.

Ki$hor B

Ki$hor B (Expert)
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09 August 2012 well explained RangaRaj!

Querist : Anonymous

Querist : Anonymous (Querist)

10 August 2012 Thanks Mr. Rengaraj....-you have been of great help