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Discussion > VAT >

WHAT IS SECTION 8 IN CST FORM NO. III-E

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MCOM II ICWAI INTER Working as an ACCOUNTANT BCOM 1ST CLASS


[ Scorecard : 484]
Posted On 02 January 2010 at 19:12 Report Abuse

HI,

I'VE TO PAY CST FOR THIS Q3..  I'VE DOWNLOADED CST FORM III E FOR CSTPAYMENT... BUT I' DON'T KNOW WHAT TO WRITE IN COLOUMN OF "SALES TAX PAYABLE U/S 8 (1) & (2) & IN (5).. N WHAT IS DIFFERENCE IN THIS SUB-SECTION LIKE 1,2, & 5. ????

PLEASE HELP ME!!!!


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subramanya
Professional


[ Scorecard : 852]
Posted On 04 January 2010 at 16:37

Hi,
A. Sales Tax  u/s 8 (1)

This Box has to capture all the interstate sales which are taxed at the effective rate of CST or the sales tax of such state whichever is lower. That amounts are to be paid to the government. All such interstate sales on which tax amount is levied are to be shown here. Note: At present the CST rate applicable from 1st of April 2008 is two percent. Only Two percent taxed interstate sales will be captured here in this box. 

B. Sales Tax  u/s 8 (2) -

C. Sales Tax  u/s 8 (5) -This Box has to capture all the interstate sales which are exempted by the state government through notification. Also these are taxed at the rates as mentioned in such notifications.Note : The interstate sales made with Form I and J and with classifications "Sales Zerorated (interstate), Sale to Diplomatic missions & UN , Interstate sales- Tax Free" will be caputered in NET values. Note: Even if any cst is entered for these classes then also they are to be captured here ratewise. 

With Regards,

Subramanya

 

 





VANDANA
MCOM II ICWAI INTER Working as an ACCOUNTANT BCOM 1ST CLASS


[ Scorecard : 484]
Posted On 17 March 2010 at 17:26

THANK U....




sinnur satish balkrishna
audit


[ Scorecard : 46]
Posted On 20 January 2011 at 18:31

hi

i want to know retention on fixed asset  under MVAT (on computers, furniture, computer software) if  i am a manufacturer?

if yes.... under which section & rule... & at what rate ?

also let me know if  im a dealer of furniture ? whether i can get retention on purchase of computers/furniture  or i can claim set off ????

Satish




charun_294@yahoo.com
charun_294@yahoo.com


[ Scorecard : 24]
Posted On 08 May 2012 at 23:17

Originally posted by : subramanya
Hi,
A. Sales Tax  u/s 8 (1)
This Box has to capture all the interstate sales which are taxed at the effective rate of CST or the sales tax of such state whichever is lower. That amounts are to be paid to the government. All such interstate sales on which tax amount is levied are to be shown here. Note: At present the CST rate applicable from 1st of April 2008 is two percent. Only Two percent taxed interstate sales will be captured here in this box. 
B. Sales Tax  u/s 8 (2) - This Box has to capture all the interstate sales which are taxed at the effective rates as mentioned u/s 8(2)  of CST Act. The sales tax for  such sales will be charged @ specified rates. The special rates are applicable only if sales are made to unreigstered dealers etc.  Note : the CST rates are  applicable as specified under the said section. Except 2% rated CST sales, all other CST sales that are taxed at otherthan 2% rate are to be captured here
C. Sales Tax  u/s 8 (5) -This Box has to capture all the interstate sales which are exempted by the state government through notification. Also these are taxed at the rates as mentioned in such notifications.Note : The interstate sales made with Form I and J and with classifications "Sales Zerorated (interstate), Sale to Diplomatic missions & UN , Interstate sales- Tax Free" will be caputered in NET values. Note: Even if any cst is entered for these classes then also they are to be captured here ratewise. 
With Regards,
Subramanya
 
 



Total thanks : 1 times



Rehbar Siamwala
Sr. Executive Taxation


[ Scorecard : 100]
Posted On 07 November 2012 at 10:00

Good one mr subramanya...

got an easy clarification on the same



There are 5 Replies to this message






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