Ganesh (Accountant) (72 Points)
26 May 2008Hi! Club Friends,
In issuing C-Forms for CST purchases, particularly from Andhra Pradesh, is it mandate to issue separate Form-C for each quarter? & from which rule / notification it was added to CST Act?
And for amounts less than 1/2 lakhs of annual turnover from the CST purchase dealer, also to be issued for each quarter? Suggest/Guide.
biren thakkar
(accounts manager)
(231 Points)
Replied 26 May 2008
Dear Ganesh,
Form " C" should be issued quarterly for each dealer for different transactions.
That if suppose you have a 1 dealer .
Goods purchased from that dealer on March 08 for Rs. 10,000 & In april another Rs. 15000 worth of goods purchased.
in above case the quarter means Jan to March 2008 for the Rs. 10000 purchase & Rs 15000 for April 08 to June 08 Quarter.
you will issue 2 Fom " c" to that party.
Please note that dealer having more than Rs. 5 lac turnover should be registered, if the purchasing dealer is having a turnover of Rs. 1/2 lakhs, then he will be charging you local Vat instead of CST because he is not registered under CST Act.
M P Singh
(Service - Finance & Taxation)
(180 Points)
Replied 03 June 2008
Hi,
The relevant Circular No. 41 of 2005 - 06 dtd 14/12/2005 issued by the Sales Tax Deptt.
Regards,
M P Singh
shyam
(accountant)
(21 Points)
Replied 12 April 2010
Dear All,
1-I have total 2 purchases during the FY 2009-10
2-One is on 25/12/09, say for Rs. 100
2- Second on 25/3/10, say for Rs.100
3-can i issue one Form-"C" for both quarters (falling within same financial year)
Regards
Shyam
CAclubindia
