9911796707
TMI BlogAmendment to CST ActX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Experts, This is in respect to amendment to CST Act vide the Taxation Act, 2017. Consequent to modification of CST Act , mainly the definition of Goods (restricting it to only 5 products which are out of GST due to upcoming GST law), there will be impact on Oil Industry as well as Dealers who are purchasing Goods from Oil Companies. They may not be able to obtain provide C form t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o Oil companies, for example, Power Generation Companies, whether they will be able to issue C forms to Oil Companies for their purchase of HSD (considering section 8 (3) and definition of Dealer Goods). If yes, then whether they would be required to continue with CST registration Returns for declaring their inter-state purchase against C form for Non-GST Goods. Kindly share your opinion. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Saket - Reply By Ganeshan Kalyani - The Reply = There is no clarity on this point in the GST law. It is clear that present taxation will apply on the products not subsumed under GST, one of the item is oil. Statutory forms will be abolished under GST. But since the current tax on oil will continue the government should allow the assessee to procure the goods against forms for these product ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. Representations can be made in this regard. - Amendment to CST Act - Query Started By: - saket s Dated:- 31-5-2017 Value Added Tax - VAT-CST - Got 1 Reply - VAT and Sales Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
