Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / manikprabhu s uttarwar
1. "C" Form is a Declaration form under Central Sales Tax Act
2. If Buyer and seller are situated in different States then Central Sales Tax Comes into picture.
3. If buyer is going to use the purchased material for resale or going to use it in manufacturing process or generation of electricity or mining then buyer can purchase such material against concessional rate of tax by issuing form "C" to seller.
4. "C" forms can be issued only and only if above conditions are satisfied. E.g. "C" forms can not be used for immovable property or material used in/for immovable property like purchase of Cement / Steel for new plant. Similarly it can not be issued for fixed asset like filing rack in the office, air conditioner in chairman's cabin etc. But it can be issued if air conditioners are being used in Cold Storage for ICE Cream Manufacturing Plant.
| Is This Answer Correct ? | 11 Yes | 6 No |
Post New Answer View All Answers
how will one calculate TDS when the bill is with service tax (SAY an AMC bill ) and what treatment will be there when it is a rent bill with service tax. is there any rules in income tax as to deduct double taxation?? pls help with rules sir
HOW TO FILL UP WEST BENGAL VAT FORM 14. NOT TECHNICALLY I AM AWARE ABOUT THEIR MANUAL. BUT I WANT TO KNOW POINT BY POINT.
how i get h form
when form h, form d, form 38, form h issu , what is the process of get it , who is the liable to get it , any % tax apply against issu this form, please give me answer on my e.mail sonidilip87@yahoo.com
Define Amortization & Impairment?
what was the VAT rate on inverters(home ups) in karnataka on 2016??
HOW MUCH PENALY IF SALES TAX IS NOT PAID ON DUE DATE IN HARYANA SALES TAX
Explain long term capital gains and how is it different from short term capital gains?
A Norwegian Company rents some equipment to a customer in India. The Norwegian Company does not have an office in India. The new tax regulations make in mandatory for them to furnish a PAN number without which a with holding tax will be deducted. The Norwegian company will be paying tax on this rental income in Norway. India and Norway have a Double Tax Avoidance Agreement. I wish to know 1) Is it possible for the Norweigian company to avoid the with holding tax in India?
treatment of Service tax and TDS
What is CAARO?
WHAT IS THE PROVISION OF INCOME TAX, SELF ASSESSMENT TAX AFTER AUDITING GIVE THE EXAMPLE WITH ENTERY
A person somehow gets hold of an extraordinary rare bird, keeps it as a pet for two years and then sells it off. Will related profit be taxable as capital gain?
How to reconcile a Vendor who is a supplier as well as a Contractor?
Beginning Balance, Dec. 31, 20xx Creditable Income Tax 211,829.00 Income Tax Payable (132,808.00) > Balance 79,021.00 ITR (1st Quarter) - Jan. 31, 2016 - Mar. 31, 20xx Normal Tax (30% of Taxable Income) 2,205.02 MCIT (2% of Gross Income) 7,865.71 Aggregate Income Tax Due (Normal Tax vs. MCIT whichever is hihger) 7,865.71 Less: Tax Credits/Payments Prior Years Excess Credits 79,021.00 Creditable Tax Withheld - 79,021.00 Tax Payable, per return (71,155.29) What should be the entry in my book to record the above transactions? Thank you!
