C-Form

Deepak Tapse (Accounts Manager - Taxation) (1771 Points)

30 January 2010

If we sold material in 1st Qtr. against C-Form, party issued C-Form in 2nd qtr. (Same financial year)

Is it allowagble? or what liability will arise to us?

Thanks

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2 Replies

Anoop (Service) (345 Points)
Replied 30 January 2010

Not allowable your sales against 'C' form because you have shown sales in 1st qtr so you have to submit c form qtr. wise (i.e. 1st qtr).

G.Ramesh (Accounts Professional) (1089 Points)
Replied 06 February 2010

C Forms are issued by the dept Qty. Basis...Ex: Apr to June Qty .....C Forms issued in July Month onwards.

If C Form not received U R Liable to pay the normal rate of tax plus interest .....

Thanks

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