Upgrad LLM

Sales tax

This query is : Resolved 

Online (Querist)
21 April 2012

What is interest provision for raising of debit notes for differential CST on account of non submission of C form ?


date of invoice : 28.06.2011

C form not received from purchaser till 31.03.2012 and accordingly debit note raised on 31.03.2012 and amount paid to government on 10.04.2012. How much interest to be paid ?

till what time the differential tax could be paid without any Interest ?

A Haque.

Suhail A.Siddiqui (Expert)
21 April 2012

Rate of interest will applicable as per local VAT act. Rate of Interest will differ state to state. If the purchaser is Registered dealer, No interest will charged. otherwise interest will charged from the due date of tax deposit/payment to the deposit date.

Shonee KapoorOnline (Expert)
21 April 2012

Nothing left to be added.


Shonee Kapoor

C. P. CHUGH (Expert)
22 April 2012

Generally C forms are required to be submitted at the time of assessment and in case one fails to submit the required declaration forms, he is denied benefit of concessional rate of taxation and full rate as applicable in the state is charged. No interest is levied on additional demand raised on account of non-submission of declaration forms, provided the selling dealer satisfies the Assessing Officer that the purchasing dealer is regd dealer and he was to provide declaration which could not for any reason.

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