[aurangabad_ca] Query Regarding Annexure - I in form 704
Sir,
I have a client who deals in Gold Ornaments for which VAT is chargeable @ 1%. He also makes sales out of Maharashtra for which also he charges CST @ 1%. For this some parties issue C form to him and some do not. In the Invoice it is mentioned just CST @ 1%. It is not mentioned sales against C Form. C Forms are received from some parties for CST Sales,
Now my query is, whether we should report such details in Annexure I : Declarations or Certificates not received under Central Sales Tax Act, 1956 for parties from whom No C form is recevied as no differential liability arises. It does not make any difference as Local Sales are also chargable to tax @ 1%.
I have a client who deals in Gold Ornaments for which VAT is chargeable @ 1%. He also makes sales out of Maharashtra for which also he charges CST @ 1%. For this some parties issue C form to him and some do not. In the Invoice it is mentioned just CST @ 1%. It is not mentioned sales against C Form. C Forms are received from some parties for CST Sales,
Now my query is, whether we should report such details in Annexure I : Declarations or Certificates not received under Central Sales Tax Act, 1956 for parties from whom No C form is recevied as no differential liability arises. It does not make any difference as Local Sales are also chargable to tax @ 1%.
Please give your valuable opinions
For Vinesh Baldia & Co
(Chartered Accountants)
CA. Vinesh Baldia
(Proprietor)
Mumbai
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AURANGABAD_CA is a Yahoo Group for the benefit of CA and other professional. It is especially meant for written discussion within group members and circulate the information among its members. The mail may contain such research/advice/opinion/information/fact provided by any member or moderator and every contain of the mail or information of yahoo is always subject to the Accuracy and of the description of facts.
The Aurangabad_CA , its moderator/owner do not claim that contains in mail/information obtained after reading as a complete and accurate disclosure of relevant fact(s).
Considering all above facts m the transaction based on above mail may not complete without confirming proper statue/authority/person. Therefore any action/transaction taken on basis of this mail do not imply the accuracy or value . Further this Group's Owner/Moderator/Member are not liable for any damages or costs suffered due to action/transaction based on information on this Yahoo Group.
For Seeking any Clarification you may mail only to Group Moderator on
girishkulk@gmail.com
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