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C form assessment w,r,t different tax rates
we sold goods on c form to goa(2010-!!). now they cant issue c forms due to their problem. we have sold 5% and 14.5% products availing c form concession.i want to know whether we have to pay the difference of the tax according to the
tax rate of that product (say 5-2=3%) or 14.5%-2%=12.5% on all sales done in 2010-11 .
thanks,I have sent the same enquiry earlier
Replies (2)
You need to pay difference amount of CST (prevailing rate - CST charged) in respect of invoices against which C forms were not received. In addition to the difference amount of tax, you also need to pay interest for delayed payment of tax.
Yes in case if forms seems to be not received from the purchasing dealer, in that case you can pay the difference amount with interest
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