What action can be taken against the purchasers who are not giving Form-C for the purchase and increasing the tax liability.
4 Replies
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 10 May 2011
nothing can be done,
its duty of seller to obtain C form or deposit in lieu of C form at the time of sale.
Harpreet
(* * * * * *)
(1670 Points)
Replied 10 May 2011
Mr. Sharma,
Please suggest him also that if purchaser will not give the 'C' form then what will he should do????
Pls suggest him that part too..
Thanks
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 10 May 2011
| Originally posted by : Harpreet | ||
 |
Mr. Sharma, Please suggest him also that if purchaser will not give the 'C' form then what will he should do???? Pls suggest him that part too.. Thanks |
 |
issue debit note for diff of tax and interest (unless the party is working with you in present, such debit notes are waste)
MJ Krishnamurthy
(ACCT(Retd))
(7197 Points)
Replied 23 May 2011
If a purchaser does not submit required 'C' form then the seller has to pay the difference of tax to the govt concerned with interest and penalty,if any. To the buyer, you can isssue a debit note and debit him with the additional tax due from him. this balance of tax may be recovered either thrrough courtor in the normal course of business.
MJ Krishnamurthy
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