AK (Sales) (100 Points)
09 November 2010W.e.f. 1-4-2007, the max CST rate = max. prevaling VAT rate for the product in the state in case C Form is not issued.
For example, there is a product whose max. VAT rate in a state is 1% (for eg. gold, silver, etc.). So the CST should be 1% with or without Form C.
Therefore is there any need of issuing Form C in this case??
We are manufacturers.
Please respond asap.
Ravi Prasad
(Self employed)
(148 Points)
Replied 16 November 2010
Even if no C-Form is issued, the concerned seller will be taxed at the rate applicable under the VAT Act, which is again 1%. Hence there is no issue of issuing or non-issuing of C-Form.
CAclubindia
