Issue of from c

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RITESH R. GOVENKAR (Querist)
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13 June 2012 Please can anyone help me?????
suppose the seller had dispatched the material on 31/03/2012 and Purchaser had received the material on 10/04/2012 for which quarter purchaser should issue the FORM C either for March 2012 quarter or June 2012 quarter???

CA Vibhash Kumar Sah

CA Vibhash Kumar Sah (Expert)
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13 June 2012 C forms are issued based on the date of the Invoice. If the date of the Invoice is 31st March, C forms may be issued under quarter ending March even the the materials have received in April. some people, consider the date of receipt of material as the date of Invoice and accordingly issue the C forms as per date of receipt. In my person veiw, C forms should be issued based on the date of the Invoice as there is nothing about the date of receipt of materials in the form for C form application. In AP, commissioner Circular is there which state validity of C forms cannot be denied even if purchaser has issued C forms based on the date of receipt.

CA Prashant Gupta

CA Prashant Gupta (Expert)
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13 June 2012 This is a practical problem which many companies face. best way is issue C form on date of invoice. for this you need to take provision of purchase on year end. if C form is issued in next f.y. it creates problem. So issue C form as per date of invoice

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