c forms query
This query is : Resolved
05 April 2010
My client has purchased some material from XYZ , the vendor has sold the goods on 30.03.2010 but material reached on 6th April to my client premises. XYZ will be demanding C form for the FY 2009-10. How I can give them C form for the FY 09-10 as my purchase falls under 2010-11. Pls advise how to book entries.
05 April 2010
Dear, as normal accounting practice, you will book in on 6th april. For C Form, we will issue it for 2010-11.This is normal reconciliation point for C-form under CST Act and Assessing officer will not have any issue if reconciliation is given to him of C-Forms received by XYZ.
05 April 2010
Dear Mr Sharma, will seller will demand C form for the FY 2009-10? Pls clarify
05 April 2010
As Normal business practise the seller will book his sales on Invoice date and the co. have to book the purchases as per invoice date. It doesn't matter the goods reached on next financial year.
06 April 2010
Agree with expert Sidharth and as expert Umesh advised it would not create any problem as Vat authority is familiar with goods in transit and reconciliation statement for year end transactions.
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