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Discussion > VAT >

WHAT IS C-FORM?

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CA

[ Scorecard : 101]
Posted On 27 April 2009 at 15:37 Report Abuse

Hii...........CAN ANYONE PLEASE TELL ME EXACTLY WHAT IS THIS C-FORM AND WHERE EXACTLY IT IS APPLICABLE???? ALSO FOR VAT RETURN PURPOSES WHAT IS ITS USE???



Total thanks : 2 times

Online classes for CA CS CMA



CA. Dashrath Maheshwari
MAC at Rockwool

[ Scorecard : 14075]
Forum Moderator
Posted On 27 April 2009 at 15:48

Form C is issued by a reg. dealer(purchaser) to seller of
goods in case of CST so as to charge him sales tax at lesser
rate


Total thanks : 4 times




CA. Dashrath Maheshwari
MAC at Rockwool

[ Scorecard : 14075]
Forum Moderator
Posted On 27 April 2009 at 15:51

and...

At the time of collecting the C-Form booklet from the dept, the C-form numbers will be noted down by dept in a register given to the companies.
C-form contains of 3 copies. One copy for the company and remaining two copies to the creditor.
You should maintain a C-form register and mention the numbers for whom you are issuing the C-form and invoice break-up details should be attached with the respective C-form.(if demanded by the dept, you should produce the invoice copies).
At the time of assessement of sales tax, you should provide the details(C-form register) to the dept.



Total thanks : 8 times



CA SUDHIR HALAKHANDI
PRACTICING CHARTERED ACCOUNTANT

[ Scorecard : 7917]
Posted On 27 April 2009 at 16:18

The rate of tax on interstate sales is governed by Central Sales tax Act and if the sale is made to a registered dealer of the another state then the rate of tax is 2% but the registered delaer (i.e. ) the purchaser have to supply C-form to the seller . The rate of tax without C-form in case of interstate trade or commerce is equal to the rate of tax applicable in the state of the seller. In fact C-form is the proof that the sales is made to a registered dealer of another state.- ca sudhir Halakhandi



Total thanks : 12 times



Akanksha
CA

[ Scorecard : 101]
Posted On 28 April 2009 at 21:48

thanks sir..................thanks a lot 2 both of u........




R B Banwat
tax consultant

[ Scorecard : 134]
Posted On 29 April 2009 at 17:47

1. The concept of C form is very simple. When Goods are moving from one state to another state, CST comes into play. Generally Goods move from one state to another state, generally they are either of Resale and/or for use in manufacturing of Goods.

2. When such goods are purchased either for resale and /or for use in manufacture, State Government  collects the tax when goods are resold or when manufacturing goods are ultimetaly sold. Thus Govt gets that tax on final selling price.

3. In such case when goods are moved from one state to another if full tax is paid by purchaser to Seller, then there will price rise, as purchaser is not entitled for SETOFF of CST paid on purchases.

4. To avoid this double taxation C Form plays importnat part. When one Registered Delar purchase goods from another registered Dealer, they can use C form , and then selling dealer will charge CST at reduced rate ( Section 8(2) of CST ACt

There is lot more things about C form, but i think u are interested in general principles.

so thats enough for the pen



Total thanks : 11 times



Yugal Kishore Mishra
Accountant

[ Scorecard : 21]
Posted On 07 January 2011 at 18:50

IF THE REGISTERED PUCHASER NOT SUBMIT THE "C" FORM WHAT TAX RATE WILL BE APPLICABLE




U S Sharma
glidor@gmail.com

[ Scorecard : 19349]
Posted On 07 January 2011 at 20:23

1. C form is a Form supplied by Vat office of the Purchasing dealer having CST registration.

2. C form is used to get goods purchased from outside the state at concessional rate of Central Sales Tax.




vivek garg
Chartered Accountant

[ Scorecard : 51]
Posted On 09 February 2011 at 12:17

Please suggest the consequences on non-submission of form C to tax deptt i.e. how much interest & penaly is applicable?




U S Sharma
glidor@gmail.com

[ Scorecard : 19349]
Posted On 09 February 2011 at 13:45

in case the seller fails to obtain C forms from interstate buyers, the sale is treated @ maximum vat chargable in state, and short fall with interest is to be paid by the dealer ( seller) 



Total thanks : 2 times


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