Answer Posted / h.r. sreepada bhagi
E-1 Sales means Sales in Transit under CST Act. E-1 is the
form used for proof of Sale in Transit transaction between
the parties in different states in India.
Example - X orders for some goods with Y in another state. Y
dispatches the same with applicable tax invoice as per CST
Act., but during transit X sells the goods to Z and makes
invoice and have the goods delivered to Z with necessary
documentation and communication.
In this transaction C-Forms will be issued by the buyers to
the sellers and E-1 Form will be issued by Y to X.
In international transactions there is a concept of High-Sea
Sales on the same lines.
For more information refer CST Act of the state in which you
are working or consult an indirect tax consultant/expert.
| Is This Answer Correct ? | 75 Yes | 10 No |
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