Non-receipt of c form

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 May 2012 CST Payable against Non-receivable of "C" form comes under which group, means Duties & Taxes/ Current Liabilities. Kindly write the journal Entry.

Ki$hor B

Ki$hor B (Expert)
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08 May 2012 Pls check the link
https://www.caclubindia.com/experts/non-receipt-of-c-form-967145.asp

CA CS Pawan Jajoo

CA CS Pawan Jajoo (Expert)
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10 May 2012 As per my opinion differential CST Liability will occur only on the event of Non receipt of CForm, else it will not occur.

So it should be shown as contingent liabilty.

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Querist : Anonymous

Querist : Anonymous (Querist)

11 May 2012 My question is, can we post the entry in normal CST Collected A/c, or shall we need to create a new ledger Like "CST Payable against Non-Receipt Of Forms" under Current Liabilities. ( the situation is that the party will not issue the forms, but they are ready to give the amt. so I need to raise a debit note. )

CA CS Pawan Jajoo

CA CS Pawan Jajoo (Expert)
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14 May 2012 in that case you can do in both ways as per your convinience