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Answer Posted / akhil gupta
What is C form: As per section 8(1) (b) of CST Act 1956
sales tax on interstate sales is 2% or state rate whichever
is lower, if the sale is to a registered dealer and goods
are covered in the registration certificate of the
purchasing dealer. Otherwise the tax applicable is the state
rate applicable on the goods sold.
If the selling dealer pays CST @ 2% i.e @ concessional rate
then he has to produce proof to his sales tax assessing
authorities that the purchasing dealer is eligible to get
these goods at concessional rate. Otherwise the selling
dealer will be asked to pay balance tax payable plus penalty
as applicable. Therefore section 8(4)(a) provides that
concessional rate is applicable only if purchasing dealer
submits a declaration in prescribed form C.
Number of Transactions per C forms: One declaration in C
form can cover all transactions in one quarter, irrespective
of total amount/value of transactions during the quarter.
(Quarter means period of three months). If a transaction
covers more than one quarter, separate C form is required to
be issued for each quarter.
Although there is specific time frame in which the C form
has to be by the party, However since it is issued to cover
the transaction of one quarter hence the practice of
collecting C form every is considered as good practice and
it is being followed at prensent in most of the industries.
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