Sale Tax for E1/E2 Transaction, VAT + CST

[Manojit Barman]

A trader has do  some sale transaction in E1/E2 to a MNC company, Due to default case MNC company has stop their Indian operation and company has closed. Main company has not provide any C form to Trader. So Now what will do the trader. Please give us your valuable suggestion.

 

Regards

Posts / Replies

[VIKAS KAPOOR]

in absence of C Form, trader has to pay full tax liability. as at the time of Sale, he has availed the Full tax Benefit.

to complete the E-1 /E-2 sales, C-Form along with E-1 /2 form has to be submitted before sales tax dept.

Regards.. Vikas Kapoor 

[Pradeep Khatri]

Full rate of tax will be applicable in case of non submission of statutory declaration Form C under Cst Act, 1956 along with interest at applicable rate and department may impose penalty on you under section 10A of the Act.