Non submission of c, f & h form

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Ashishkumar Mishra (Querist)

30 June 2012 If the Buyer has not been submitted C,F & H Form at the end of Financial Year, is any penalty has going to occur.

Please reply as soon as possible

RENGARAJ R.K

RENGARAJ R.K (Expert)

04 July 2012 Yes, each state has fixed a deadline date for submitting the c, f & h forms. It is better to colelct these forms before end of the next quarter and submit the same to the Assessing authorities. April to June quarter forms have to be submitted before july to sep. The non-submission of forms will attract levy of higher rate of tax under cst act with penalty. Some states have prescribed reversal of ITC availed proportionately.

Ashishkumar Mishra

Ashishkumar Mishra (Querist)

09 July 2012 Thanks for the reply sir,
But what is the provision applicable in the state of Maharashtra. One of the company has neither collecting nor issuing the above mentioned forms. in that case company had not issued &/ collected the above forms for whole financial year therefore how much penalty will be attracted to company

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