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TaxTMI 
Forms and Accoutability of Free issue/ unpacked value clerance-reg
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....orms and Accoutability of Free issue/ unpacked value clerance-reg<br> Query (Issue) Started By: - ravikumar venkatraman Dated:- 13-12-2012 Last Reply Date:- 15-12-2012 VAT + CST<br>Got 1 Reply<br>VAT / Sales Tax<br>Dear Experts/ Members, I am working in a EPC company and we face the below mentioned situations due to contractual requirements. Kindly clarify. Let Say A, B, C are independent busi....
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....ness entities. B has got an EPC contract from X. for 100 L B has ordered some parts with A for manufacturing INR. 20L and asking A to dispatch C. B pays A and issues 'C-Form to A and Got E-1 Form for his transaction of 20L. B has ordered another part with C for manufacturing of INR. 25L. C Manufactureres his part and as per instruction of A assessmbles parts from 'A'Also. C avails Cenvat por....
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....tion of goods received from A and credits in B's account by a credit note. C raises the bill of 20L+25 L( his mfg value+ goods from A value) to X as per instruction of the B to comply with valuation rule of Central Excise. C issues another credit note for material received say 20 L+ SalesTax. C receiving a payment from B after adjustment of credits notes given to B to the value of his bill for ....
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....this transaction. Please clarify: How much value B should issue C- Form to C? How purchase from A should be adjusted in the purchase account? How purchases from C should be treated in accounting?. How much purchase should be shown in books of accounts? Thank you Ravikumar +91-94861 80815. Reply By Pradeep Khatri: The Reply: Though I am trying to find answer for your query. Please make y....
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....our query bit simpler, if possible for you.<br> Discussion Forum - Knowledge Sharing ....