E1 Transaction Condition
This query is : Resolved
01 July 2011
Suppose we are X situated in UP, we receive the order from Z situated in Delhi, we require to dispatch the goods Out-N-Out basis (Sales in Transit) from Y situated in Delhi to Z in Delhi (Interstate Transaction). In this case Y supposed to bill X releasing with E1 form with charging 2% CST and on the same X suppose to bill Z charging Nil CST against form C. Can this transaction complete for the E1 base?
As first party and third party both is situated in the same state.
Please suggest me………
As first party and third party both is situated in the same state.
Please suggest me………
01 July 2011
yes. it is E-1 Transaction only. as per 6(2) of the CST provides exemption from CST on sales subsequent to an interstate sales, which has been effected by transfer of documents of title of goods during their movement. Thus it becomes essential to understand what is transfer of documents of title of goods.
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