Upgrad LLM

Issue of c form invoice date? or material receipt date issue


Dear Devananda Sir,

In your explanation to Mr. Prashant regarding C Form issued in different quarter.

If a Buyer has filed return for 1st quarter and after filing return the buyer received Invoice & Material from his supplier of 1st Quarter i.e. in 2nd quarter. In such case for which quarter C Form will be issued by the buyer. Also please explain whether there will be any problem relating to the Return filed for 1st Quarter.

And also if the case is for One financial year to another.

Thanks

 
Reply   
 

 Mr. Khaja,

 When a sale or purchase has taken place, the dealer who sells the goods is liable to pay tax to the State he situate. You are purchasing the goods from such a dealer availing concessional rate of tax  against C form declaration under the provisions of the CST Act instead of paying local rate of tax applicable to those goods under that State law. The selling dealer is liable to pay tax under the provisions of the appropriate State Act. You are availing the concessional rate of CST with a condition that C form will be given against said invoice. Now a days, all the formalities are doing electronically online. If you are receiving the goods in second quarter along with  invoice, you can account the invoice either in previous or subsequent quarter and generate C form specifically stating the purchase invoice number, date and amount. Quarterly specification is applicable only for including  more invoices in a single C form, ie, you can issue a single C form for the purchases effected during that quarter from such seller. If you are accounting the invoice during the second quarter, you should generate single C form without clubbing  other invoices. However it is the duty of the buyer to provide C form against the invoice issued by the seller specifically stating the invoice number, date and amount irrespective its date of receipt or  accounting. 

 
Reply   
 


Accounts In Charge - South Region

Dear Sir,

We are having a standing Instruction regarding the Interstate purchases with our Vendors.

I.E. Updating the materials only for the Good-stk. Since the material is electronic component, chance for damage or breakage is high.  If we are updated the materials only for the Good-stocks; Our Purchase register will show only the Good-stk values.

The thing is ; While issuing the C Forms against those Invoices, Which value should we have to consider? As per Invoice value or updated value? 

If we are issued as per Invoices, difference will reflect on Purchases accounted and Purchases Invoices.

Does it will be acceptable to our Vendors (ST DPT); if we are issued as per the Good-stock updated as our system?

Pls suggest……

 

With Thanks n Regards

Dileep Madhavan

 

Cema Lighting.

 
Reply   
 

Sir, 

Please explain your doubt clearly. What you mean by updated value, updating material. According to CST Act, the selling dealer is liable to pay tax based on his invoice. He is the person taking risk while allowing concessional rate of tax against C form. It is the duty of the seller to satisfy his assessing authority in respect of  concessional rate of tax allowed in his tax invoice. According to me the seller should bring the materials using delivery note based on your  purchase order, inspect the goods, quality and issue goods acceptance receipt in order to prepare tax invoice and issue C form thereon in order to avoid disputes and transparent accounting. If you requires further clarity  please make your question clear.

Thank you 

 
Reply   
 
Accounts In Charge - South Region

Sir,

Thanks for the information.

Since the materials are coming through commercial tax check post, is it viable the consignment only through Delivery Note and Without Tax invoice?

 

Is the Check post authorities may enquire about the values for the same..?

 

 

With Warm Rdgs

Dileep Madhavan

Cema Lighting.

 
Reply   
 

Mr.Dileep

According to Sec 46(3) of the KVAT Act, 2003 every consignment transporting beyond the notified area shall accompany either a tax invoice or delivery note or certificate of ownership containing such particulars as may be prescribed. This is the statutory provision in Kerala.  

Thanks

 
Reply   
 
ADVOCATE

It is well replied by Mr. V. Devananda Narasimham, no need to add more to that, it is aptly and adequately explained with reference to the provisions as well as the case law.

 
Reply   
 
Business-Head

Dear Sir,

I am from Jharkhand. My supplier(from maharashtra) Issue a Invoice to me on 28-06-2013, Inform me to issue Raod Permit(Online) on 02-08-2013(Too late), I issue the Raod Permit on 02-08-2013, Now Company Dispatch the Good on 03-08-2013(after accepting at his end on 03-08-2013).such it is clear that Qtr Changed even for dispatch and issue of Road Permit. In the monthly Return obiously I not mention this purchase(because i was not aware). Now I saw the purchase in August return and Issue C form for qtr July-Sep qtr of 2013. But company deny to accept the C form and charge me for Tax. what I do. please clear and advise me.

 
Reply   
 
ADVOCATE

Company's claim is correct, if your purchase invoice contains date as 28.06.2013, then u r suppose 2 issue C-declaration form for the qtr ending April-June,2013, there is a force in the denial of acceptance of C-Form issued July-September,2013 quarter. You approach the C-Form issuing authority at your place, then submit the 2nd quarter C-Form and apply for a new one for the 1st quarter.

 
Reply   
 
SALES CO-ORDINATOR

Please give me solution for C-Forms matter.

1. If the buyer issue us the C-form which is i.e. IIIrd Qtr invoice is issued in IVth Qtr c-form, then is it submitable to TAX Department.

2. On this basis both quarter are wrong C-form,  then we collect for full tax amount  for the both qtr OR for one invoice which wrongly shown in next qtr....

3. What will be the Interest charged on it...?

 

Regards

Shivanand 

 
Reply   
 

LEAVE A REPLY


    

Your are not logged in . Please login to post replies

Click here to Login / Register  



 

  Search Forum








×

Menu

CrPC MASTERCLASS!     |    x