Kumar (Properitor) (40 Points)
20 March 2013
Hello, I am a dealer located in Tamil Nadu having both VAT and CST Nos. I have a buyer who doesn't have a VAT or CST, he wants me to bill products to him for a apporximate value of 10Lacs a month on regular basis. All payments are done via bank. Can i bill to his customer or any high value transactions require VAT or CST ?
Sonu Kumar
(Account Manager)
(665 Points)
Replied 20 March 2013
I Think No................ You are Requred to Issue Retail Invoice to Buyer including Vat........
Kumar
(Properitor)
(40 Points)
Replied 20 March 2013
You mean to say the Buyer should have a VAT number ? Do retail invoice need buyers VAT no ?
MJ Krishnamurthy
(ACCT(Retd))
(7197 Points)
Replied 20 March 2013
The buyer need not have a VAT or CST no. You have to charge cst at full vat rate applicable within the state in your invoice. Organisations like schools,colleges or associations can make interstate purhases,but,without the 'C' form benifit.......mjk
Sonu Kumar
(Account Manager)
(665 Points)
Replied 21 March 2013
Retail Invoice is Issued to Unregisterd Buyer and Tax Invoice is Issued to Registered Buyer but in Both Cases you will Charge Vat Tax.
Thanks
Nazia
(Asst Manager - Finance)
(139 Points)
Replied 26 March 2013
who has to issue C-form? For example, Goods are purchased from Bangalore, I am in chennai , my project is in punjab. Invoice is raised on my company, chennai. But goods are delivered directly to my project site in punjab by supplier from bangalore. In this case can we issue c-form from chennai based on cst registration in chennai.
Can anyone give me related rules.
Pls reply
CAclubindia
