Form 27c

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 January 2013 Dear Sir,
One of the assessee is engaged in manufacturing of furniture and trading of timber as well. And he is not able to ascertain, how much timber he would have used for furniture making and how much he has sold timber in the same condition out of his purchase.
Hereby, I would like to know that, whether he can use form 27C and upto which extent.
Whether he can issue form 27c for all of his purchase or for partial purchase.

Thanks and regards

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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23 July 2013 First of all it is not that difficult to know the quantity used in making furniture. While purchasing it comes in cft and while selling you sale in cft. You can take the stock of the timer in your shop or go-down. Add opening stock with purchased and deduct the closing stock plus timer sold it will give you the timer used in furniture making.

Anyhow it seems that your client wants to take the short cut then you can submit 27C