Sr.Asst.
22 Points
Joined June 2012
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Originally posted by : shilpa nair |
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Hi,
Please advice me what is E-1 Transactions and what are its tax implications and how to create its invoice.
Kindly also advice how supplier in benefited from it.
Regards
Shilpa Nair |
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Hi
This form is to be issued by the selling dealer who makes the first inter-State sale during movement of goods from one state to another to enable his purchaser to claim the benefit of exemption from C.S.T. on the second inter-State sale effected by him during the movement of goods. This form is required to be obtained from the Sales Tax Officer.
* Form E1 or E2 is to be obtained by the buyer from the seller (dealer). Form E1 is to be issued by the first seller to his immediate buyer and Form E2 is to be issued by the subsequent seller to the immediate buyer.
* Form C is to be issued by the purchasing dealer to his immediate seller
Form E1/E2 is mandatory and shows that tax has already been levied at the time of first interstate sale of the goods.
E1/E2 forms are to be issued which are obtained from the state from where the sale is effected.