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?
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Answer Posted / 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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