12 May 2016
Hi. I need to ask on what value C form should be issued. if the seller is calculating the CST on the Basic amount+Excise duty and while he's taking the refund of Excise duty so he's not charging from the Buyer and so raising the invoice excluding the Excise duty.For e.g.:- below is the extract ledger of our seller
18/07/2015 To (as per details) Sales 70 4263499.00 01SALES [WELDED CMS XING] 3679970.00 Cr 01EXCISE DUTY DEPOSIT 499931.00 Cr 01C.S.T 2% PAYABLE (AG.C'FORM) 83598.00 Cr New Ref 70/18.7.15 18-Jul-2015 4263499.00 Dr BEING MFG AND SALE OF WELDABLE CMS XING 1SET 08 NOS @ 3679970/-EACH SET
and he's raising the invoice inclusive of all taxes as on 37,53,569 and in tally buyer is showing the entry purchase A/c 36,79,970(Dr) + CST 73,599(Dr) = party 37,53,569 (Cr). on what value C form should be issued...?? Please reply urgently.
13 May 2016
C Form has to be issued on the total value i.e. inclusive of Excise Duty and CST. This total value should also be mentioned in the VAT returns and E-UPaSS.
13 May 2016
Thank you so much Mr. Saket. That means C form will be issued on total value ie 42,63,499 no matter on what value they are raising the invoice to the buyer. C form will be generated inclusive of Excise duty.
CAclubindia
