what is sales in transit ?
This query is : Resolved
ajay shankar
(Querist)
30 January 2012
Sir please clear the concept of sales in Transit and also tell me why cst or other tax is not imposed on a bill of sales in transit .
Sir please clear the concept of sales in Transit and also tell me why cst or other tax is not imposed on a bill of sales in transit .
CMA Ramesh Krishnan
(Expert)
30 January 2012
Sales in transit which means
1. Selling the goods by the buyer before reaching the same to the buyer
2. Buyer instructing the seller to deliver the goods to the some other person (who is the buyer for the buyer)
Sale in transit also taxable based on the transaction either in VAT or in CST
1. Selling the goods by the buyer before reaching the same to the buyer
2. Buyer instructing the seller to deliver the goods to the some other person (who is the buyer for the buyer)
Sale in transit also taxable based on the transaction either in VAT or in CST
31 January 2012
Agreed with the expert and sale in transit is taxable as per VAT / CST Act
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