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Form-C

Revathi Ganesh (Practicing Advocate) (41 Points)

10 May 2011

What action can be taken against the purchasers who are not giving Form-C for the purchase and increasing the tax liability.

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4 Replies

U S Sharma (glidor@gmail.com) (21056 Points)
Replied 10 May 2011

nothing can be done,

its duty of seller to obtain C form or deposit in lieu of C form at the time of sale.

1 Like

Harpreet (* * * * * *) (1670 Points)
Replied 10 May 2011

Mr. Sharma,

Please suggest him also that if purchaser will not give the 'C' form then what will he should do????

Pls suggest him that part too..

Thanks

1 Like

U S Sharma (glidor@gmail.com) (21056 Points)
Replied 10 May 2011

Originally posted by : Harpreet
	Mr. Sharma, Please suggest him also that if purchaser will not give the 'C' form then what will he should do???? Pls suggest him that part too.. Thanks

issue debit note for diff of tax and interest (unless the party is working with you in present, such debit notes are waste)

MJ Krishnamurthy (ACCT(Retd)) (7197 Points)
Replied 23 May 2011

If a purchaser does not submit required 'C' form then the seller has to pay the difference of tax to the govt concerned with interest and penalty,if any. To the buyer, you can isssue a debit note and debit him with the additional tax due from him. this balance of tax may be recovered either thrrough courtor in the normal course of business.

MJ Krishnamurthy

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