| 1. CST is an annual tax but since the VAT machinery of a State is used to collect it, it is usually collected quarterly along with VAT by a State government. Right or Wrong? 2. FY 12-13 On 1-9-11, A of Punjab makes inter-state sale to B of Haryana of 20000 plus 2% against Form C. Invoice 01 On 1-3-12, A of Punjab makes inter-state sale to B of Haryana of 30000 plus 2% against Form C. Invoice 02 On 1-4-12, A of Punjab makes inter-state sale to B of Haryana of 40000 plus 2% against Form C. Invoice 03 On 10-7-12, A of Punjab makes inter-state sale to B of Haryana of 50000 plus 2% against form C. Invoice 04 What shall be the CST payable for quarter Apr12-Jun12 and Jul12-Sep12 considering all of the following : (a) A returns goods 5000 against Invoice 01 on 1-5-12 (returns relating to FY 11-12 and more than 6 months old) (b) A returns goods 5000 against Invoice 02 on 1-6-12 (returns relating to FY 11-12 but not more than within 6 months) (c) A returns goods 5000 against Invoice 03 on 1-6-12 (returns relating to FY 12-13 and within current quarter and less than 6 months) (d) A returns goods 5000 against Invoice 03 on 1-7-12 (returns relating to FY 12-13 and in next quarter but within 6 months) I hope i get a reply  Shivani (no I am not doing PHD in CST, A of Punjab is not my brother, he he he ) 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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