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Notional calculation for sales tax exemption availed - CST & State Sales Tax

VAT and Sales Tax - Started By: - NAUSHERAWAN SM - Dated:- 23-11-2015 Last Replied Date:- 9-12-2015 - We had availed sales tax exemption under Bihar Industrial policy 1995 under Notification No. S.O. 479 and S.O. 481 (Bihar & Jharkhand ). The gov .....

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be completed notionally at the prescribed rate of goods i.e. concessional rate of tax 2% or 3% as the case may be to watch prescribed monetary limit of exemption. We are manufacturing automobiles parts and also excavator parts which being finished pr .....

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e taxed at the special rate of 2% or 3% of its product which are being sold to automobile manufacturers or excavator manufacturers. The Sales Tax deptt. re-assessed our books and accounts on the basis of Audit objection raised by AG and charged full .....

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culation on concessional rate of tax or the notional caluclation of Sales will be charged full rate of tax in absence of Form-IX or C-Form..S.M.NausherawanSr.Manager (Indirect Taxes)RSB TRANSMISSIONS (I) LTD.JAMSHEDPUR. - Reply By Ganeshan Kalyani - .....

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n of concessional form duly collected from customers in sale. In absence of such forms regular tax rate is applicable and it is liable to be reduced from incentives if balance available otherwise payable. This is my view. However experts view in this .....

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or 4% in case of CST sales against statutory forms. Our case is we have sold our goods to registered manufacturer who is entitle to purchase goods on concessional rate of tax and registered under 13(1) B of Bihar finance act. No sales tax has been c .....

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s not purchase under 13 (1) B i.e. concessional rate of tax. The point of law is whether statutory forms are required on such type of sales to arrive notional calculation on concessional rate of tax or notional calculation will be full rate of tax. R .....

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