Mr. Raj Patel (Finance Professional) (71 Points)
08 November 2014A COMPANY IS BASED IN MUMBAI... IT PURCHASES GOODS FROM GUJARAT AND SALES TO TAMIL NADU, SO IT HAS CST PURCHASE TO CST SALES,
WHAT ARE THE THINGS TO TAKE CARE IN CST PURCHASE TO CST SALES???
HOW TO RAISE SALES INVOICE...??
COMPANY BOUGHT "A" @ 100+2% = 102/- FROM GUJARAT AND HAVE SOLD AT 101+2% TO TAMIL NADU, SO INVOICE TO BE RAISED AT 101+2% OR 103.02/- R.R. SALES??
Harshal Fifadra
(Chartered Accountant)
(1489 Points)
Replied 09 November 2014
CST Purchase :
You need to issue C FORM to the selling party. If you do not want to purchase against C FORM then the rate of CST applicable would be the rate that would have been applicable had the goods been sold locally. i.e local rate as applicable in Gujarat.
CST Sales :
You need to obtain C FORM from the purchasing party based in Tamil Nadu. If you are not selling the goods against C FORM then the rate would be rate had the goods been sold locally.
Invoice value = Your sale vale ( incl of your profit element) + CST @ 2% or CST @ 12.5%.
dgkumar
(accountant)
(51 Points)
Replied 22 November 2014
Sir,
Please inform me what are the formalities to take c form and proceedures to take c from local tax authorities ? - dgkumar
CAclubindia
