Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

Urgent Please

Pankaj Arora (Learner) (3134 Points)

22 December 2010

Dear All

1.what documents are require for cst return and in which form file cst return?

2. we billed abc co. of Rs.16000 Plus 500 Freight Charges = 16500/- but the party issue form c of 16000/- so what we have to do now bc party issue lesser amount c form. Will sales tax dept. not accept it or we have to pay tax on it.

Reply
Follow
Share

6 Replies

sivaram (Asst Mgr-Taxation) (6918 Points)
Replied 22 December 2010

Form 1 is the document to file CST Return

Just check whether Freigt amount is charged before CST or after CST .If Freight is charged after CST the Form value given by the party is correct else ask them to give revised Form

Upgrade to CAclubindia Pro. Subscribe Now!

U S Sharma (glidor@gmail.com) (21056 Points)
Replied 22 December 2010

Originally posted by : pankaj
	Dear All 1.what documents are require for cst return and in which form file cst return? 2. we billed abc co. of Rs.16000 Plus 500 Freight Charges = 16500/- but the party issue form c of 16000/- so what we have to do now bc party issue lesser amount c form. Will sales tax dept. not accept it or we have to pay tax on it.

Freight charges added after the CST calculation are not added in C form.

Pankaj Arora (Learner) (3134 Points)
Replied 22 December 2010

Is cst return file quarterly or half yearly? And suppose one party is not giving c form amt is rs.15000/- so we have to pay tax on it ? and what is interest rates on late filing of return?

U S Sharma (glidor@gmail.com) (21056 Points)
Replied 22 December 2010

Originally posted by : pankaj
	Is cst return file quarterly or half yearly? And suppose one party is not giving c form amt is rs.15000/- so we have to pay tax on it ? and what is interest rates on late filing of return?

CST return is quarterly, late submission will invite upfront penalty upto 2000/-

interest is 1.5% per month or part thereof.

yes the seller has to pay diff of tax for which C forms are not recived.