C form queries

Dear Member

Please note that we have sold some goods to the customer against C form in the 4th Quarter 2011-12  and the customer has returned some goods  in the 1st Quarter 2012-13  and the customer given the C form for 4th Quarter 2011-12 for the full invoice value  but  he has deducted the sale return amount  from the C form of 1st Qtr 12-13.

I want to know that is both the c Form will be acceptable to the sales tax department

 

 

Replies (2)

Dear Rakesh Jain Sir,

Form C transactions involves Physical transfer of Goods from One state to Another i.e. Interstate Transaction. If the same is returned within the same quarter of the year, the customer can give you a Form C for the Net amount.

In your case the customer has given you a Net amount form for the year in which goods were not returned back i.e. Physical transfer of goods did not take place. According to me, it will not be accepted by the Assessing officer.

You need to get the same corrected. 

Dear Harish ji

 

Please note that we have made the sales in March 2012 for Rs 40 lacs  and customer returned some goods in the Month of April 2012  of Rs 2 lacs and the customer has issued the C form for 4th Qtr 2011-12 for Rs 40 lacs but  for the C from of 1st Qtr 12-13  deducted the sales return amount of Rs 2 lacs from the C form.

Is the customer is correct or not  and this c Form is acceptable to Salex tax authority or not

 

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