TMI BlogForm I to be issued by the sez buyerX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Experts Our company In Tamilnad supplied goods to buyer in SEZ within the state and also other states against their SEZ notification. But the sales tax officer demands Form I from the sez buyer within TN and CST 2 percent for SEZ sales to other state SEZ buyers, pls clarify on this validiity regards ravikumar - Reply By Viswanathan Nemmara - The Reply = For sales to SEZ buyer w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ithin the State, form ARE-1 is to be issued by the seller to the SEZ buyer which should be duly certified by the Custom Officer in charge of the SEZ and returned to the jurisdictional officer of the seller within the State within 45 days of clearance. Form I is to be issued by the SEZ buyer to a supplier from outside the State. It is the equivalent of Form C. However, in case of Form I no CS ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T is to be levied. Viswanathan Nemmara - Reply By Ravikumar muthusamy - The Reply = Thanks for double clarifiying my query like CST not to be levied. Kindly clarify if FORM I is not obtained from the buyer what is our liability - Reply By Viswanathan Nemmara - The Reply = If Form-I is not obtained, it will be treated as sale for home consumption and full rate of tax applicable within the Sta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te of the Seller will be payable, which can be recovered from the buyer. - Reply By Ravikumar muthusamy - The Reply = Very kind of you for giving us clear cut reply, Pls confirm if we hv to reverse Input credit availed on local vat purchased goods which we supplied to SEZ and now paying CST 5 percent in absense of Form I from the buyer, as we do in casese of CST sales without c form - Reply By ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ravikumar muthusamy - The Reply = Ok thanks a lot for clarfications in dtls rgds Ravikumar / 9094043313 - Reply By Ramanujam Varadarajan - The Reply = In case of local sale to SEZ unit located within TN, there would be no VAT levy as sale to SEZ unit is considered as Zero rated sale and no form I is require to be obtained. Further, the sale would not be affect the VAT input tax credit for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the product availed by the seller. If the sale is madeto SEZ unit located outside TN is exempt from CST if sale is made against Form I. However, if Form I is not produced, it would be treated as normal CST sale subject to CST at the VAT rate applicable for the product. Further this would also affect VAT input tax credit availed by the seller on the product. - Reply By Ravikumar muthus ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amy - The Reply = Dear Experts Would humbly request What is the time limit to produce FOrm I for sez sales - Reply By Ramanujam Varadarajan - The Reply = There is no specific timelimit for submission of Form I under CST Rules as against quarterly time limit for Form C or Form F. Thus, in all practical perspective, Form I should be submitted at the time of completion of assessment / audit. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - Reply By Ravikumar muthusamy - The Reply = Ok sir thanks, Really so proud of our Experts for giving us 100 percent accurate info. Once again thanks a lot to one and all - Form I to be issued by the sez buyer - Query Started By: - Ravikumar muthusamy Dated:- 26-10-2013 Customs - Import - Export - Customs - SEZ - Got 9 Replies - Customs - Discussion Forum - Knowledge Sharing, reply ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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