Rules of puchase against the c form

Save Share

This query is : Resolved

SUMIT KHETAN (Querist)

02 August 2013 IN hariyana,if any party purchase the goods from other state than cst will be paid on goods or not or What the amount the party will be credited.

RENGARAJ R.K

RENGARAJ R.K (Expert)

04 August 2013 THERE ARE CERTAIN COMMODITIES EXEMPTED IN OTHER STATES ALSO. HENCE IF YOU PURCHASE ANY TAXABLE COMMODITY, TAX 2% WILL BE CHARGED BY THE SUPPLIERS, AGAINST C FORM AND HIGHER RATE WILL BE COLLECTED WITHOUT C FORM.

THE ENTRY IS:

COST OF SALES (INVENTORY) A/C DR
TO PARTY CR.

FOR CST PURCHASE, TAX CAN BE BOOKED IN THE PURCHASE COST ITSELF.

Message likes : 1 times

SUMIT KHETAN

SUMIT KHETAN (Querist)

06 August 2013 so cst 2% will be added in cost of sales and party accuont willbe debited with full amount

RENGARAJ R.K

RENGARAJ R.K (Expert)

06 August 2013 yes. please note, party account will be credited and not debited as mentioned in your reply.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now