Sale Tax for E1/E2 Transaction

[Guest]

A trader has do  some sale transaction in E1/E2 to a MNC company, Due to default case MNC company has stop their Indian operation and company has closed. Main company has not provide any C form to Trader. So Now what will do the trader. Please give us your valuable suggestion.

 

Regards

[V K]

in absence of C Form, trader has to pay full tax liability. as at the time of Sale, he has availed the Full tax Benefit.

to complete the E-1 /E-2 sales, C-Form along with E-1 /2 form has to be submitted before sales tax dept.

Regards.. Vikas Kapoor 

[YAGAY andSUN]

Full rate of tax will be applicable in case of non submission of statutory declaration Form C under Cst Act, 1956 along with interest at applicable rate and department may impose penalty on you under section 10A of the Act.

AI Summary

Trader Faces Full Tax Liability Due to Missing C Form After Multinational Ceases Indian Operations, Section 10A CST Act A trader engaged in E1/E2 sales to a multinational company faced an issue when the company ceased its Indian operations and did not provide the necessary C Form. Without the C Form, the trader must pay the full tax liability, as initially, a tax benefit was availed. To complete E1/E2 sales, the C Form and E1/E2 forms must be submitted to the sales tax department. In the absence of the C Form, the trader is liable for the full tax rate, interest, and potential penalties under Section 10A of the CST Act, 1956.