22 November 2014
Dear All, My Company makes cst sale invoice in below format to each party:-
Value of cost of product Excise 12% Edu Cess 3% SH Edu 1% Cst 2% Carriage outward xyz amount Service tax on carriage 3% Edu cess on Service tax 2% Senior & Higher Edu 1% = total value of Bill. I want to know on which value should I receive form C, because some parties issue form c on total bill some issue after excluding carriage+service tax+edu+she, when i ask resion, they reply it as according to rule of sales tax. kindly clarify it.
22 November 2014
Excluding carriage and service is better. (This is because VAT has nothing to do with that) Some people are approximate enough in asking for C form and hence they include TOTAL value. In either case, the puirpose of CST dept is well served. C form is for CST dept to know that the interstate transaction has occurred. The subsequent action is to check that in the DESTINY state, it is regarded as first sale or NOT.
22 November 2014
I am preparing sale tax cases for FY 11-12, A party has send first 2 quarters's forms C excluding carriage & service tax & last quarter's forms C with carriage & service tax. In this condition what should I do. Should I ask for extra value of form C for first 2 quarters or it is ok.
CAclubindia
