2013 (5) TMI 772

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..... tion in this revision is whether for a single transaction of sale between the same two dealers in connection whereto goods are delivered at one point of time in the next quarter of a financial year, separate form C is required for availing of the benefit under section 8(4) of the Act. 4. The assessee-revisionist is dealing in pharmaceutical. It supplied certain pharmaceutical products to M/s. Dishman Pharmaceutical Ahmedabad under different invoices in the first quarter of the financial year but in respect of each of them single delivery of goods took place in the next quarter. Accordingly, single form C in respect of each transaction was produced claiming benefit under section 8(4) of the Act. 5. The authorities held that in view of the .....

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..... wo dealers:-                 Provided also that where, in the case of any transaction of sale, the delivery of goods is spread over to different quarters in a financial year or of different financial years, it shall be necessary to furnish a separate declaration or certificate in respect of goods delivered in each quarter of a financial year." 8. Section 8 of the Act read with rule 12(1) of the Rules contemplates that the benefits of section 8(4) of the Act would be available to a dealer only on production of a declaration/certificate in forms C and D, respectively. 9. The manner and applicability of forms C and D has been prescribed in rule 12(1) of the Rules. Th .....

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..... language used in the third proviso of rule 12(1) of the Rules is "the delivery of goods is spread over to different quarters in a financial year." The spreading of the delivery of the goods in different quarters is necessary for requiring separate declaration or certificates. The time of transaction of sale is not relevant for the above purpose. Therefore, even if the transaction may have taken place in the earlier quarter and the delivery of goods take place in the other quarter, the proviso three to rule 12(1) of the Rules would not come into play. 14. It may be noted that a transaction of sale gets completed with the delivery of the goods therefore, what is relevant is the date of completion of the transaction not the date of initiati .....

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