dear sir
i have quiry regading to cst sale . if a (delhi) saler recieved a purchase order from (up) buyer in the form of cst sale and saler completed the order as per buyer requirement and consideration paid by buyer as per order but buyer fail to issue c form to saler against said sale in this situation ,
what can do saler so that he safe from penalty and interest charged by department against lower tax paid
Buyer Fails to Issue C Form; Seller Faces Penalties and Interest for Lower Tax Payments Under CST Sale Terms A seller in Delhi completed a purchase order for a buyer in Uttar Pradesh under CST sale terms. However, the buyer failed to issue the required C Form, potentially exposing the seller to penalties and interest for lower tax payments. A Chartered Accountant noted that many such cases are pending, emphasizing the mandatory nature of the C Form. Another contributor referenced a ruling by the Allahabad High Court, stating that without the C Form, tax must be levied at the normal rate with interest from the due date. The Supreme Court case J.K. Synthetics Ltd. vs. CTO was also mentioned for guidance. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
