We are confused about which value to be quoted in E I Form whether taxable turnover or invoice value.
Previously we issued E 1 Form with the invoice value (taxable value + CST tax 2 %) as we have received C Form for those sales from our buyer ( C Form value was taxable value + cst 2%) but for the quarter starts from 01.04.2017 to 30.06.2017, we inadvertently generated without CST 2% in ctd site.
For rectify the issues we approach the help desk they explained through a reply mail that there is no provisions to revise return for E 1 forms, new invoices can be added for the same period but for already generated forms we cannot revise/ edit amend the value in the site.
Again we approach our concerned sales tax authority for this problem. He states that the E 1 forms what we have generated with value as taxable value without tax portion at site is correct and there is no need to revise / amend the forms.
Further he told that we should have issue forms only to the turnover and not to the invoice value because at the time of assessment only taxable value is taken to determine turnover of our company.
We don’t know which value is the correct value to be quoted in E 1 Form.
Could you please advise us whether we can issue E1 form without cst 2% ie taxable value? Or with cst 2% invoice value?
Any rule is concerned with the value to be quoted in E 1 Form, kindly forward the rule.
CAclubindia
