04 July 2012
Yes, each state has fixed a deadline date for submitting the c, f & h forms. It is better to colelct these forms before end of the next quarter and submit the same to the Assessing authorities. April to June quarter forms have to be submitted before july to sep. The non-submission of forms will attract levy of higher rate of tax under cst act with penalty. Some states have prescribed reversal of ITC availed proportionately.
09 July 2012
Thanks for the reply sir, But what is the provision applicable in the state of Maharashtra. One of the company has neither collecting nor issuing the above mentioned forms. in that case company had not issued &/ collected the above forms for whole financial year therefore how much penalty will be attracted to company
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