Jugal Punjabi (Officer- Finance) (50 Points)
16 October 2012Whether Capital Assets (Plant & Machinery, tools, dies, etc) can be purchased by issuing C Forms?
We have purchased a Capital Asset from a dealer who is based out of the State of Maharashtra. The dealer has charged CST @ 2% in the invoice. Can a C Form be issued for the said purchase or we will have to pay CST at Full rate?
Please reply..
Kolluru Krishna Murty
(Partner)
(315 Points)
Replied 17 October 2012
Dear Sir,
Purchases against C-Form can be made only for specified goods used in the manufacturing of goods,mining of minerals and generation of power.
These goods are to registred in the certicate of registration obtained by the dealer under CST Act.
So in my view capital goods cannot be purchased against C-Form.
kkm
CAclubindia
