We have raised a Vat Bill agst C-Form @ 3% to one of our clients for FY 2007-08 but now they says that they cant issue C form, instead they will pay balance tax amount. Can we go for that. Pls give me any solution.
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Replies (6)
yes, you can collect diff tax amount with interest & paid to the department.
COLLECT THE DIFFERENCE AMOUNT AND PAID TO THE DEPARTMENT WITH INTEREST.
also will have to file Revised return.
Dear manju,
I am noyt able to understand how you will charged VAT against C form. VAT is local levy and C form is used for central sales.
I think you might have charged cst @ 12.5% and now party want to give you c Form with tax 24% instead of full tax.
in this case to accomodate your customer, you have to pay diiferencial tax with interest and also you have to revise the return.( if time is available)
Rgd,
vijay
yes you can do the same by taking 9.5%( 12.5%-3%) from the vendor
I have applied for Asst.Manager Accounts
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