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what is the exact meaning of cst? what is its usage and
what are the benefits of c form?
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Answer Posted / vivek thakur
This amendment also authorized Parliament to formulate
principles for determining when a sale or purchase takes
place in the course of inter-State trade or commerce or in
the course of export or import or outside a State.
Accordingly the Central Sales Tax (CST) Act, 1956 was
enacted which came into force on 05.01.1957. Originally, the
rate of CST was 1%, which was increased first to 2%, then to
3% and w.e.f. 1st July, 1975 to 4%. The CST Act, 1956 Act
provides for declaration of certain goods to be of special
importance in inter-State trade or commerce and lay down
restrictions on the taxation of such items. The entire
revenue accruing under levy of CST is collected and kept by
the State in which the sale originates. The Act excludes
taxation of imports and exports.
CST being an origin based tax, is inconsistent with Value
Added Tax which is a destination based tax with inherent
input tax credit refund. An amendment to the Central Sales
Tax Act to provide for reduction of the rate of Central
Sales Tax for inter-State sales between registered dealers
from 4% to 3% w.e.f. 1st April, 2007 was effected in.
Through this amendment, facility of inter-State purchases by
Government Departments at concessional CST rate, against
Form-D has been withdrawn. After this amendment, the rate of
CST on inter-State sales to Government will be same as VAT/
State sales tax rate.
Central Sales Tax rate has been further reduced from 3% to
2% with effect from 1st June, 2008. Reduction of CST rate
first from 4% to 3% & then from 3% to 2% has been done as a
precursor to the introduction of Goods & Services Tax (GST),
as CST would be inconsistent with the concept & design of GST.
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