Issuance of C form

[unmesh ---]

If we are selling goods to our one of customer of c form basis in a year & customer are sending c form of that transaction in next year.

So my query is that is there any effect in books of account for both parties or any penalty / charges for late submission of c form.

waiting for feedback.

AI Summary

Understand Rule 12(7): Submit C Forms Within Three Months to Avoid Penalties and Financial Loss. A query was raised about the implications of receiving a C form from a customer in the year following a transaction. The concern was whether this affects the accounting records or incurs penalties for late submission. One response referenced Rule 12(7) of the Central Sales Tax Registration and Turnover Rules, 1957, stating that C forms should be submitted within three months after the relevant period, with possible extensions if justified. Another response advised collecting the C form promptly to avoid financial loss.