Cst refund
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 March 2012
can we claim refund of cst in form 501 only..
pls tell me its urgent
pls tell me its urgent
20 March 2012
As per section 8(1)(b) of CST Act,If the selling dealer pays CST @ 2% or lower, he has to produce proof to his sales tax assessing authority that the purchasing dealer is eligible to get these goods at concessional rate.
If the basis of a claim for credit or refund is that a customer gave you an exemption certificate♦ after you remittedthe tax with your return, you must send copies of the ex-emption certificates, invoices and credit memoranda involved in the claim. If your customer originally paid you sales or use tax then submitted an exemption certificate requesting a credit or refund of the tax, you must send, with your claim, proof of repayment of the tax to the customer, such as a copy of the canceled check or a credit memo Submit documents in a format suitable to determine thecorrect amount of refund or credit(e.g. invoices,exemption certificates, credit memoranda, etc.)
IF YOU ARE 100% EOU UNIT THEN READ THE LINK:
https://www.caclubindia.com/share_files/cst-refund-procedures-for-reimbursement--42944.asp
If the basis of a claim for credit or refund is that a customer gave you an exemption certificate♦ after you remittedthe tax with your return, you must send copies of the ex-emption certificates, invoices and credit memoranda involved in the claim. If your customer originally paid you sales or use tax then submitted an exemption certificate requesting a credit or refund of the tax, you must send, with your claim, proof of repayment of the tax to the customer, such as a copy of the canceled check or a credit memo Submit documents in a format suitable to determine thecorrect amount of refund or credit(e.g. invoices,exemption certificates, credit memoranda, etc.)
IF YOU ARE 100% EOU UNIT THEN READ THE LINK:
https://www.caclubindia.com/share_files/cst-refund-procedures-for-reimbursement--42944.asp
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