Hi Friends
1. What is the difference between Exempt Sales and Tax Free Sales?
2. If any of the above two sales types are inter-state, then does the buyer issue C Form?
I mean does C Form is issued for exempt and tax free sales?
Thanks
Shivani
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2 questions
Replies (5)
Exempted sale means the goods are normally taxed but exempted by way of notification
If exempt sales of goods against interstate sales buyer can't issue c forms. because goods are exempted.
Dear Shivani,
Exempt Sale are those sales which are covered under statue but exempted by way of notification whereas Tax free sales are not covered under statue.
No need to issue Form C for both kinds of sales.
dear samrendra
in tally will we take interstate sale of exempt goods under Exempt Sales or under Interstate Sales.
shivani
It should be under exempt sales.
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