30 December 2011
What is the time limit of application submission for CST refund in EOU unit. If you know, please give me the statutory reference for the same.
(i). The CST reimbursement claim is to be made only on Quarterly basis (JAN-MARCH, APR-JUNE, JULY-SEP, OCT-DEC) and only one consolidated claim for a Quarter is admitted for reimbursement of CST. No supplementary claim is entertained, CST claim for the amount below Rs.100/- of any single invoice is not admissible.
(ii). The date of receipt of materials/goods is the criteria for determination of the Quarter. In case of procurement of goods against payment in instalments, the CST reimbursement claim may be made in the quarter in which full payment has been affected against the invoice/bill,(e.g.) goods received on 15.1.2005 and entered in MRR NO.200 dt: 15.1.2005 for invoice value of Rs.2,08,000/= first payment made on 20.3.05 for Rs.1,04,000/= and if the second & final payment made on 20.5.05. This particular claim would pertain to the Quarter related to Apr-Jun and not Jan-March though goods were received in Jan 2005.
(iii). If one single payment has been made against the invoice in the subsequent quarter but the goods received in the earlier quarter, it should be taken against the quarter in which the goods have been received (e.g.) goods received on 15.1.2005 are taken in MRR NO.200 dt:15.1.2005 but payment of the invoice made on 20.4.05, the claim pertains to the Quarter related JAN-MARCH and NOT APR-JUNE.
for more info: http://www.mepz.gov.in/content/commondeficiencies_cst.htm
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