What is C form CST?
C Form / Form C The buying dealer from another state issues ‘C Form’ for compliance of ‘CST Rules’ of the state of selling dealer. The buyer can purchase goods at concessional rates, against ‘C Form’, in the inter-state sale. ‘C Form’ can be issued only by a registered dealer to another registered dealer.
How is C Form amount calculated?
Taxable amount will be mentioned in the C form. Taxable amout = Assessable Value + Excise duty + Ed. Cess + SHE Cess.
What is C form in income tax?
Business transactions between different states must be pursued with a certificate, which is known as C from. It is issued by the seller of goods to the buyer of goods for the purpose of effecting a reduction on the rate of tax.
What is Form C and F?
There are certain type of forms which has been prescribed under central sales tax rules 1957, form C for making interstate purchase at lower rate, form F used to transfer goods from one branch to other in different state without making it as sale form E1 and E2 used when interstate sale or purchase which are effected …
Why is C form required?
Form C is declaration by purchasing registered dealer to obtain concessional rate. Submission of C form is mandatory for availing lower CST rate. It is not an alternative to VAT.
What if C form is not issued?
1. Section 8 of the CST Act stipulates the rate of tax in case of inter-state sale of goods covered by registration certificate of the purchasing dealer as 2%, subject to furnishing of declaration form by the purchasing dealer to the selling dealer.
How do I file a C Form?
Click on Corporate Tax and select File Form C-S/ C. Select the Year of Assessment you are filing, and select Form C to begin completing the Form. Click to Confirmation Page to verify that the information declared is correct. Thereafter, complete the Declaration and fill in Details of Filer & Contact Person.
What is Form B and Form C?
Manner of registering establishments and form of registration certificate:- On receipt of the statement and the fees prescribed in Rule 3, the Chief Inspector shall, on being satisfied about the correctness of the statement, register the establishment in appropriate part of the Register of Establishments in Form “B ” …
What is Bonus Act in India?
The payment of Bonus Act, 1965 aims to regulate the amount of bonus to be paid to the persons employed in establishments based on its profit and productivity. The act is applicable to the whole of India for all establishments which had twenty or more persons employed on any day during the year.
What is bonus rule in India?
In accordance with the terms of the Principal Act, every employee who draws a salary of INR 10,000 or below per month and who has worked for not less than 30 days in an accounting year, is eligible for bonus (calculated as per the methodology provided under the Principal Act) with the floor of 8.33% of the salary …
Is it compulsory to pay bonus?
Unlike incentive bonus, which is an ex gratia payment, Statutory bonus is a compulsory payment by law. Payment of statutory bonus under the Payment of Bonus Act is not a matter of choice of the employer but rather a matter of right of the employee.
Is it compulsory to pay bonus in India?
As per statutory laws, the Government on India mandates organisations to pay yearly bonuses to their employees. As per the 2015 amendment, when salary exceeds ₹7000 or the minimum wages fixed by the government, bonus is payable on whichever is higher. 3. Bonus payable will be at a min rate of 8.33%, and max at 20 %.
What is the minimum bonus payable in India?
8.33%
Who started bonus in India?
The practice of paying bonus in India appears to have originated during First World War when certain textile mills granted 10% of wages as war bonus to their workers in 1917.