What is the C form?
Any inter-state business transaction needs a certificate to be pursued, which is termed as C form. It is basically issued by the seller of goods to the buyer of goods for the purpose of effecting a reduction on the rate of tax. There are many business transactions have been conducted on a daily basis after the introduction of the GST system, this C form is not applicable.
Read more: Certificate of Commencement of Business
Applicable Terms and Conditions
There are certain conditions in the issuance of C form:
- It is restricted for the goods which are specified in the certificate of registration.
- The purchased commodities must either be traded or used as a raw material for production.
- Besides, the form can be used for the procurement of capital goods, barring a few.
Contents of the C form
The following must be inclusive in the C form:
- Name of the buyer and seller
- Name of the issuing state
- Seal of the issuing authority
- The office in which the certificate was issued
- Date of issue of the certificate
- The validity of the declaration
- Address of the buyer and seller
- Buyer and seller’s registration number
- Contact details of the buyer and seller
- Serial number of the form
- Details of the procured commodity
- Name and signature of the authorized signatory
- Signatory Status in relation to the particular dealer
- Place and date
Timeline of Issue of C Form
- It must be issued by the purchaser to the seller on a quarterly basis for the goods procured during the quarter.
- No monetary restrictions will be imposed for the issuing a single bill in a particular quarter.
- There is a restriction of one crore for issuing multiple bills.
Consequences for Non-Issuance of C form
If in case, C form has not been issued, the following consequences might be faced:
- The purchaser shall be compelled to remit all the taxes at normal rates.
- He/she may deprive of his/her any account to remit all the taxes.
- Besides, the purchaser will have to remit the requisite interest and penalties.
Although, the penalties and interest can be recovered by claiming it form the customers.
How can we search C Form?
- You can simply go to the website: TINXSYS.
- Enter the details of the type of form, Name of a state, Series number and Serial number.
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