TaxTMI 
TaxTMI 
TaxTMI 
Form "C" Procedure
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....orm "C" Procedure<br> Query (Issue) Started By: - Srivatsan Krishnamachari Dated:- 17-4-2012 Last Reply Date:- 20-4-2012 VAT + CST<br>Got 2 Replies<br>VAT / Sales Tax<br>Dear Friends, The CST Act clearly states that the Declaration (Form C) shall cover all transactions pertaining to one Quarter in a single form and seperate Form" C' has to be for transactions in different quarters unless a trans....
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....action spreads to more than one quarter. Hence if a buyer by mistsake club transactions pertaining to two quarters in one Single Form, can the Assessing Officer of the Seller be requested to accept the Form "C" submitted in theabove said manner when other things are in the prescribed manner. Does the Assessing Officer has discretional power to accept such Form "C" or Fresh Forms "C" covering trans....
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....actions on quarterly basis have to be obtained from the buyer concerned and submitted by the Seller. I assume the Onus is on the buyer who avail the concessional tax to provide the Seller with Proper Form "C" in the prescribed manner obtained from the Prescribed Authority. Am I right. Kindly clarify. Thanks & With Regards, K.Srivatsan Reply By vivek singh: The Reply: As per the law, The onus....
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.... is always on the Assesse. It is not acceptable by AO. If this time AO accept than further, at the time of assessment this question will arise again that why dealer mention 2 qt. transaction in one C Form. At the end it depends on the AO opinion. Reply By Usha Mani: The Reply: The Rules clearly say that transactions during a quarter can not be covered in a C form issued for the next quarter. T....
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....He AO will definitely return the C forms issued for the both quarters for necessary inclusion and deletion. It is always advisable that all the rectifications are properly carried out before submission to the AO. For reference extract of the corresponidng rule is given below. THE CENTRAL SALES TAX (REGISTRATION AND TURNOVER) RULES, 1957 Provided further that a single declaration may cover all t....
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....ransactions of sale,which take place in a quarter of a financial year between the same two dealers: Provided also that where, in the case of any transaction of sale, the delivery of goods is spread over to different quarters in a financial year or of different financial years, it shall be necessary to furnish a separate declaration or certificate in respect of goods delivered in each quarter of a ....
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....financial year. Thanks and Regards, R USHA VAT and CST consultant<br> Discussion Forum - Knowledge Sharing ....