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SEZ denotified

ASH (nil) (77 Points)

14 January 2011

We have supplied certain process plant items to special SEZ coming up in one of the state, party issued form I for 2008-09. For supplies made during 2009-10 he is not issuing I forms as on his request SEZ was denotified by GOI.

He is willing to give C forms. As we have made interstate purchases ( E1).

As per law can we accept his proposal of C form if yes what are the formalities we need to fulfill like revised invoice and return etc.

Any one faced such problem? We are registered with Karnataka VAT

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1 Replies

U S Sharma (glidor@gmail.com) (21063 Points)
Replied 14 January 2011

Originally posted by : ASH
	We have supplied certain process plant items to special SEZ coming up in one of the state, party issued form I for 2008-09. For supplies made during 2009-10 he is not issuing I forms as on his request SEZ was denotified by GOI. He is willing to give C forms. As we have made interstate purchases ( E1). As per law can we accept his proposal of C form if yes what are the formalities we need to fulfill like revised invoice and return etc. Any one faced such problem? We are registered with Karnataka VAT

you can receive C forms in place of "I", as in case of E1 no additional tax is charged, but u have to obtain a letter from the client 1st, submit the copy to your AO of vat, as the 2008-09 returns can not be revised now, u have to discuss the issue with your STO, he will gladly allow the issue as the facts are genuine and there is no loss of revenue,

one more thing to point out, sales against E1 does not impact any revenue, so it does not matter that goods are sold against which form, its just a deviation in returns submitted ( chek your returns, if the E1 sales are specified at seperate column then I and C forms does not differ at all)