C FORM

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PRITI RUPAREL

ACCOUNTANT

193 Points Joined December 2008

Hi Readers,O

One of our client (OUT OF MAHARASHTRA) gave us Purchase Order on 29th March 2009.

We have to supply material to them against "C" Form.

We supplied materials to them vide our Invoice dt.02/04/09.

Now they have send us "C Form indicating Quarter 4th i.e. 01/01/2009 to 31/03/2009. (As per their Purchase Order.)

In our books of A/c.s the sales effected in 1st quarter of F.Y. 2009-2010.

In this case, shall we accept the "C" Form or return the "C" form for correction in period mentioned therein.

Kindly guide me.

Thanks,

PREETI RUPAREL

Replies (8)

The purpose of issuing Form-C is to allow the vendor to support payment of tax at concessional rate during the period in which goods are sold. Hence, ensure that sales effected during April is included in Apr-Jun quarter and not in Jan-Mar quarter.

PRITI RUPAREL

ACCOUNTANT

193 Points Joined December 2008

Originally posted by :Dharmaraju
"	The purpose of issuing Form-C is to allow the vendor to support payment of tax at concessional rate during the period in which goods are sold. Hence, ensure that sales effected during April is included in Apr-Jun quarter and not in Jan-Mar quarter.	"

But still i want toknow that shall i kept that "C" form wherein period mentioned as Jan-March'09, or i should return back it for correction

PRITI RUPAREL

ACCOUNTANT

193 Points Joined December 2008

Originally posted by :PRITI RUPAREL

Hi Readers,O
One of our client (OUT OF MAHARASHTRA) gave us Purchase Order on 29th March 2009.
We have to supply material to them against "C" Form.
We supplied materials to them vide our Invoice dt.02/04/09.
Now they have send us "C Form indicating Quarter 4th i.e. 01/01/2009 to 31/03/2009. (As per their Purchase Order.)
In our books of A/c.s the sales effected in 1st quarter of F.Y. 2009-2010.
In this case, shall we accept the "C" Form or return the "C" form for correction in period mentioned therein.
Kindly guide me.
Thanks,
PREETI RUPAREL

Shall I kept that "C" form or I should return it back for necessary correction in period mentioned therein???????

Ram Avtar Singh

Nagari Sultanpur U.P.Delhi

15158 Points Joined March 2007

C form return to party and demond fresh form for Invoice Period april to june.

RAJU

LEARNER

1089 Points Joined November 2008

Either obtain a new Form-C for Jan-Mar or get corrections done in the form obtained already and get a form for the period Apr-Jun wherein the Invoice of April is included.

Govardhan Reddy P

Accounts

34 Points Joined June 2009

Hi,

First of all you have to know that CFORM issue by your party in 3rd quarter (2008-09) where as your sales accounted in FY2009-10 ist quarter, In this view you have to check with your customer and ask them to send the revised CFORM which effect in FY 2009-10,

If they booked in purchase in FY 2008-09 then it is difficult to arrange the revised CFORM, if they also accounted in this FY , then u will ge the revised form

Hitesh Kothari

Chartered Accountant M.No. - 134239

326 Points Joined January 2009

Hi, Ask the party to correct the C Form you have or fresh one. In any case you will have to return the C Form having with you.

Sauve

Service

24 Points Joined July 2008

Asking for a fresh Form-C from the Customer is the best solution.

If it is too difficult for the Customer to provide you with a fresh Form-C then you can use the Purchase Order (PO). But your Invoice must refer or quote the P. O.

When accepting Form-Cs, always make sure that the Customer's Registration Date mentioned in their Form-C is before the date of the P. O. or Invoice.

Do confirm this from your local experts.

Best.