C Forms Tax Liablities on Deduction

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..... C Forms Tax Liablities on Deduction
Query (Issue) Started By: - Chetan Pawar Dated:- 23-2-2014 Last Reply Date:- 25-2-2014 VAT + CST
Got 4 Replies
VAT / Sales Tax
Dear All, We are supplying the Chemicals to out one of the Rajasthan customer, but as per tender & contract terms our payment its come on monthly consumption basis & also they have deduct the payment on performance basis a .....

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..... s per contract terms. but as far as C Forms Concerns, They have given the C Forms after deduction but they have not raised the Debit Note for the same , so please advised me if any Sale Tax liabilities has been came on deduction made by the customer? If Yes, Please advised with all legal aspect,Rules & all regulations. if no, then please advised how to make the entry in our books. Thanks & Reg .....

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..... ards, Chetan Pawar 9970686579 Reply By Pradeep Khatri: The Reply: If the customer/client issue the C Form after deduction of some amount due to quantity issue or quality issue from the Invoice/Bill, then, such C form would be deemed as final declaration form. If your customer/client does not issue the debit note, then , you may issue a credit note in this regard. Reply By Chetan Pawar: The Re .....

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..... ply: But what about the c form liabilities, weather it will have to pay to Govt with interest for which amount (Deduction) c Forms not recevied. Reply By Harish Chander Bhatia: The Reply: When it is brought to your notice that the buyer has debited your account and remitted the balance amount to you. You are required to issue a credit note by crediting the buyer and crediting the debiting sales .....

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..... and CST separately and claim in your VAT return within six months. In that case you will not be liable to pay any amount on account of short realisation of C form. Revert for more clarification. Reply By Chetan Pawar: The Reply: But Sir, C Form is for the year 2012-2013, then what to do? Please explain with legal sale tax act provision in this regards
Discussion Forum - Knowledge Sharing .....

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