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WHAT IS C-FORM


Akanksha (CA)     27 April 2009

Akanksha
CA 
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Hii...........CAN ANYONE PLEASE TELL ME EXACTLY WHAT IS THIS C-FORM AND WHERE EXACTLY IT IS APPLICABLE???? ALSO FOR VAT RETURN PURPOSES WHAT IS ITS USE???

Milan Somani

Milan Somani (CA)     27 April 2009

Milan Somani
CA 
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Form C is issued by a reg. dealer(purchaser) to seller of goods in case of CST so  as to charge him sales tax at lesser rate.

BALU....

BALU.... (CCI STUDENT....)     27 April 2009

BALU....
CCI STUDENT.... 
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There are few specified conditions, fulfilling which a dealer can purchase goods in inter state trade & commerce at concessional rate of tax (3%). Against such eligible purchases only, the delaer is authorsied to issue C form.

use for cst....

 

 

 

Sandeep Keswani

Sandeep Keswani (Tax Consultant)     27 April 2009

Sandeep Keswani
Tax Consultant 
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Hi Akanksha.

C FORM is issued by the purchaser of goods to the seller when goods are purchased from Outside the State in which purchaser carries on business. C Form is a form under the Central Sales Tax. It is given by the purchaser to the seller so that the seller will charge a lesser rate of VAT to the purchaser (upto 31-03-2009 is was 2%). If the purchaser fails to submit C Form to the seller, the seller is supposed to charge VAT at the rate prevailing in his / her respective state.

Take an Example:

A in Ahmedabad purchases goods from B in Bangalore. Normal rate of VAT in Bangalore (Karnataka) is say 12.50%. But if A submits C Form to B (i.e. goods are purchased against C Form), B shall charge ONLY 2% CST instead of 12.50%)

ysd prasad

ysd prasad (Accounts officer)     27 April 2009

ysd prasad
Accounts officer 
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Hello Sandeep,

Thanks a lot for good explanation.

Sandeep Keswani

Sandeep Keswani (Tax Consultant)     27 April 2009

Sandeep Keswani
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Dear Mr. Balasubramanya, I think the present rate of CST against C Form is 2% and NOT 3%. Adding further, it is all set to reduce to 1% in this year and ofcourse will be totally abolished next year, as planned by the Finance Minstry 3 years ago. CST is being abolished to make way for Goods and Services Tax.

ysd prasad

ysd prasad (Accounts officer)     27 April 2009

ysd prasad
Accounts officer 
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Hello Sandeep,

Thanks a lot for good explanation.

BALU....

BALU.... (CCI STUDENT....)     27 April 2009

BALU....
CCI STUDENT.... 
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THANKS SANDEEP...

BALU....

BALU.... (CCI STUDENT....)     27 April 2009

BALU....
CCI STUDENT.... 
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thanks sandeep, forgot that

srinu dhar shanapu

srinu dhar shanapu (accountant)     30 April 2009

srinu dhar shanapu
accountant 
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whay is c form brief expalanation with exmapuls


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