| On 1-4-12 A of Punjab sells goods worth Rs. 10000 to B of Haryana on credit against Form C. Please check or answer the following: 1. Entry in Books of A B Debit 10200 To Inter-state Sale 2% 10000 To CST Payable 2% 200 2. Entry in Books of B Inter-State Purchases 2% Debit 10200 To A 10200 3. When does a seller asks for Form C. I read that it is asked quarterly and submitted to Excise and taxation department (ETD) of seller quarterly. In above example by what date A should ask for Form C and by what date A should deposit it with ETD - Punjab? 4. What if B does not give Form C, even if he is a registered dealer? ETD - Punjab will then collect CST at VAT rate applicable on goods sold from A, in my view. In that case, what journal entry will A pass? Is there any legal remedy for A if he doesn't get Form C from B as he is not at fault and the person at fault is in fact B who is residing in Haryana. Is there any consequence for B for not issuing Form C or any journal entry he will pass. I guess in his Tally this entry will keep showing as one due for Form C issue. Shivani Get Jokes, Facts, Vocabulary, Pictures, Songs in your Email Join Wisdom Garden with your Yahoo Mail ID After Joining, Check your Spam Folder and mark mails sent by Wisdom Garden as NOT SPAM to get mails in your Inbox. |
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