Upgrad LLM

exempted item


We are a bakery industry making RUSK , registered in UP vat where the RUSK is exempted from any sales tax. We are making interstate sales , please let us know is C form  required against such interstate sales of tax exempted items or not.

Mittal

 

 
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Dear Sir

Mhada Colony in Mumbai going for redevelopment. Builder is offering Rs. 15.00 lacs as corpus fund to existing members individually. 

Whether it will attract income tax  or  it is exempted?????.

If it is taxable at what rate it will be taxed ????

 
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Advocate

There is no requirement of C Form since the goods are exempted.

 
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Sir, 

Thank you very much for your reply, can you please provide me some notification regarding same for my future reference.

 
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Proprietor

C Form is given only when you want that concessional rate of tax is been charged against the purchase only when the said purchase is inter state 

where as when the tax rate is nil you need not get concessional rate of tax to be charged.

Hence You need not to give any C Form

 
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