L KANAGARAJ (Assistant Manager-Finance) (615 Points)
16 November 2010One company purchased"Bin' for storage purpose from interstate..
The Seller charged CST against Form'C'.
Whether this transaction is eligible to issue Form'C'.
Because some body arguing that Form 'C" is applicable to raw material and Capital goods only. But this Bins come under consumables.
Whether their argument is correct or wrong.
Ravi Prasad
(Self employed)
(148 Points)
Replied 16 November 2010
The C-Form can be used to purchase only the following goods
1. Raw materials
2. Packing materials
3. for materials utilised for generation and distribution of electricity
4. machineries
5. for resale
But bins used for office purposes doesnot fit in the above categories and hence are not eligible to be purchased against C-Forms.
Pallavi
(Asst Accounts Manager)
(21 Points)
Replied 16 November 2010
kindly let me know Form 'C' can be issued for particular materials purchased or only for raw materials. if we insist the customer to raise invoice against Form 'C' what is the process from buyer side and from seller side.
Vijay Patil
(Practising Chartered Accountant)
(46 Points)
Replied 19 November 2010
process for C Form:
Buyer needs to provide details of material purchased like Inv no & date, customer name, address & TIN , value of goods to concerned sales tax officer with an application to issue Form. Forms are issued on payment around 40 paise is required to get 1 form C. On receiving C form buyer will fill up the details and sign the same and send it to seller.
Seller needs to mention on his invoice that sale is against C Form. on receiving the C Form from buyer seller needs to submit the same to his concerned sales tax offcer.
please note C Form is required to submit after every Quarter end and 1 C Form can contain all the transaction happend in that particular QTR
any other query....write freely
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
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