Sirs,
1. We are purchase materials from another state without 'c' from (Paid in Full Tax). Can we take input credit ?
2. When we submit 'C' form for CST Purchase ? And when we collect 'C' from for CST Sales ?
3. Suppose Materials are return in CST Sales (or) Purchase then, What we do..?
Any one please help me.
Regards,
M.Shanmugasundaram
9659340248
1) Even though you have paid full taxes you cannot claim input.
2) Not clear
1. As no tax has been paid to the Local State Govt. even though you have paid full tax, you are not entitled to claim input tax credit.
2. You submit C form to the selling dealer from other state, when you purchse the goods against the concessional rate of tax. The items purchased must be mentioned in your Central Registration certificate for resale, manufacturing or packing. You collect the C forms when you sell the goods to registered dealers registered under Cental Act of that State against concessional rate of tax.
3. If the material is returned within six months of sale you get the rebate otherwise you will have to pay full tax if the purchasing dealer does not provide C forms.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
