purchase against C form

[Guest]

Dear Experts,

kindly guide, we had purchase raw material against C form ( for the year 2012-13) and issued the C form regarding it. but now days we discuss with supplier that, we will return your material and you will export it to our other company (USA). So, anyone can guide me regarding all aspects. (taxation and accounting)

Rgd

Vikram

[YAGAY andSUN]

You would have to sell them against Form C. There is no other way out. After such purchase they may export it out of country, there is no restriction in the Law.

[Guest]

Yes Sir, i agreed with you. but, we can't sale it because we have not any trading sale license/certificate. kindly suggest......

[Ganeshan Kalyani]

You have VAT / CST registration which is essential for doing interstate transaction. You can sell against Form C as rightly said by Yagay and Sun Team.

AI Summary

Form C sales requirement: interstate sale must be against Form C and VAT/CST registration is required. Any inter state sale of goods originally purchased against Form C must be effected against Form C; the supplier may thereafter export the goods, but the transaction must be treated and accounted for as an inter state sale. The seller must hold applicable VAT/CST registration and necessary business licences before lawfully making such resale.