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What is the procedure for Sales Tax Filing? which can come
under this head. whn we file it? wat r all the materials to
be submitted?
For eg: i hav a company named 'A'in chennai. my branch 'b'
is in Bangalore. the sales made in bangalore can be (come
for sales Tax Filing)filed in chennai? and also the
purchase from bangalore can be(Sales tax filing) filied in
chennai?
- 4 Answers
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Answer / tulasi
Sales Tax Means VAT, VAT = Output - Input
U have Purchase Some Items and u gain Input vat, and u Sell
Some Items u paid output vat.
your output vat more than input vat u paid to Tax ,
your output vat less than input vat your return is nill.
Sales Tax Submisssion Due Date Ever Month 21st
Every Quarterly Report Submit to Sales tax
| Is This Answer Correct ? | 110 Yes | 25 No |
Answer / pawan kumar
SEE A CO. MADE SALE LOCAL IN CHENNAI THEN U WILL BE LIABLE
TO PAY VAT, IF U TRFD THE GOODS TO UR BRANCH IN BLORE THAT
MEANS IT IS STOK TRFD & THEN U HAVE NO NEED TO PAY ANY TAX
U HAVE TO OBTAIN FORM F FORM UR BLORE BRANCH TO AVIAL
EXEMPTION OF LOCAL TAX RATE ALL IT COME UNDER CST ACT
POINTS TO NOTED
VAT IS PAYABLE ONLY IF IT IS LOCAL SALE IN UR OWN STATE
IF U R SELLING THE GOODS OUTSIDE THE STATE U HAVE TO
COLLECT 2 % OF CST PLUS YOU HAVE TO OBTAIN C FORM FROM UR
CUSTOMER TO AVAIL CST BENEFIT DULY OTHERWISE LAOCAL TAX
RATE WILL BE LIVIED ON UR FIRM
| Is This Answer Correct ? | 46 Yes | 9 No |
Answer / aditi goel
What is the procedure of sales tax If I have a construction
company then is it possible to file return quarterly
| Is This Answer Correct ? | 26 Yes | 7 No |
Answer / dileep jain
sales tax has 3 terms No. 1- input tax 2. output tax & 3 net
tax If the company has purchased materials from within the
state that tax given is considered as input tax and if
company has sold materials within the state or outside the
state and charged the tax rate then it considered as output
tax.Interstate sale is considered as CST Sales.
And if company has purchased some materials from interstate
then it should not be considered as input tax it considered
as CST purchase and again if company has purchased some
capital goods for their own use then also the tax paid is
not considered as input tax whatever tax given is considered
as purchase value of that particular materials.
Calculation of net tax payable
output local tax 100
cst sales 200
Total 300
Less input tax 150
total 150
this 150 should be filed on or before 20 of every month
If total tax is payable, nil, or refundable, the above
calculation should be done in form no 100 and filed in the
concerned sales tax department on or before 20th of every
month that form 100 should be 1+1
if total tax is refundable then that tax refund should be
added in input tax and adjusted in next month ( it can be
adjusted before three moths)
if you are transporting materials from one branch to another
branch or one place to another place you need to issue form
no-505, 515, or form F along with delivery challan.these
forms are issued in certain conditions Like Transporting
for demo, sample, repair,transferring one branch to another
branch. ETC depending on conditions forms are issued.
if the company really purchased or sold goods to their own
branch then tax charged should be calculated and filed
And again each branch should calculate their input And
output tax and filed in their concerned department.
regards.
Dileep.
| Is This Answer Correct ? | 23 Yes | 5 No |
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