Provision for non submission of C forms at Assessment time
Ashish Vishnoi
(Querist) 14 November 2010
This query is : Resolved
Dear Sir.
What is the provision of panel & interest for non submission of C forms at the time of assessment? Please also provide any judgement regarding this.
Thanks.
sanjeev kumar goel
(Expert) 14 November 2010
mr. ashish it's quite simple that if you don't have Form C at the time of assessment then the assessing officer may grant you time to submit the required Form C and till then will assess you with full rate of tax as will be applicable and demand will also raised against you, but this demand will remain stayed till the time granted to you, and if you fail to submit the Form C in the time granted then you have to deposit the raised demand along with interest as applicable. if you get the Form C after the time allowed then you can submit these Forms in appeal stage also.
AMIT BAJAJ ADVOCATE
(Expert) 14 November 2010
agreed with Mr Goyal can also refer to the articles on above issue at the following links
http://amitbajajadvocate.blogspot.com/2010/02/c-forms-under-cst-act-can-be-submitted.html
for more on C forms can refer to the article at below link:
http://amitbajajadvocate.blogspot.com/2010/09/some-issues-pertaining-to-c-forms-under.html
Ashish Vishnoi
(Querist) 15 November 2010
Dear Friends,
Thanks for reply. But I would like to know whether we have to pay panelty also for non submission of C forms? Please provide any judgement regarding this.
Thanks.
aman kumar
(Expert) 15 November 2010
yes you should !
soumitra basu
(Expert) 16 November 2010
If you could not submit C form before the assessing officer, you may submit the same before the appellate authorities. There are lot of judgments in this respect.
Regarding levying of penalty, I may say that no penalty is automatic and if you shall have reasonable ground to show the reasons for non-submission of C form, you may avoid penalty.
