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what is "c" form?
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Answer / sushant jain,ara
when we purchase any goods from outside from the state
with cst than we have to issue c form within next three
months from the date of invoice if we not issued the c form
in time than we have to panelty 6%.
| Is This Answer Correct ? | 17 Yes | 1 No |
Answer / nichit pandurang
when we purchase material from out side state under CST
examption rate. on that time we liable to issue c form to
patry. we file the quartery c form application for C Form
and ofter receiveing C form issue the same party
in this transaction no pay any panelty or extra Tax to
Government
| Is This Answer Correct ? | 9 Yes | 3 No |
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Ganesh & Gopal joined a firm drawing salary of Rs 25000 per month.After serving 3 yrs ,they started business of their own in partnership,contributing Rs200000(expected life 10 yrs,bought spare parts worth Rs 33000 from Kundu on credit.Office supplies were purchased for cash.Initially they were very busy in conducting their business operations but by the end of the 1st year,31/12/2005 they were disappointed when they found their bank balances.Following is the summary of their bank statement. Receipts: Share Capital Rs 250000 Collections from Customers 412000 Payments: Equipment 200000 Salaries of Assistants 88000 Rent advance for 2 yrs 96000 On-year ins. Policy on equipment 12000 Office stationery 27000 Payment to Kundu 29000 Withdrawals of Ganesh 90000 Withdrawals of Gopal 90000 Closing balance c/d 30000 ----------- Total : 6,62,000 Still amount receivable from customers for services to them amounted to Rs 30,000 & closing balance of office stationery is Rs2000,spare parts Rs2600 were utilised by the end of the year .Prepare trial balance with the available information and show total. Also what is the net profit.
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