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what is vat?
what is excise?
what is form c & d in sales tax?
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Answer Posted / viveka nandareddy
According to my best knowledge form-c shall issued by the buyer which is registered to registered seller for reduction of VAT burden to the seller
for ex: mr.vivek was a buyer of goods from a.p and mr.raghavan was a seller of goods.here with out form-c mr.raghavan should pay the tax 12.5%.
but if mr.vivek issued the form-c to the raghavan...mr.raghavan can pay the tax 2% on goods
with this automatically reduced the cost of goods...
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Dear All, We are a trader and doing one E-1 sales. Supplier send the material by To-pay basis, we endorse the LR and sold to Customer. Customer has given the purchase order for Basic amount and freight amount also. That means we have to pay the freight and getting the reimbursement from customer. In E-1 sales Invoice can we show the freight amount separtely as freight ? Since the customer need the freight head should be shown separetly. Or can we raise the separate debit note for this. Is it create any tax implifications in E-1? Please claify the same at the earliest. regards Regards Thananjeyan.P
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