Where is CST applied?

Where is CST applied?

Central Sales Tax (CST) is a tax on sales of goods levied by the Central Government of India. CST is applicable only in the case of inter-state sales and not on sales made within the state or import/export of sales. CST is payable in the state where the goods are sold and movement commences.

What is current CST rate?

The current Central Sales Tax rate in India is 2% in case of sales against declaration in C-Form and in all other cases the rate of CST is the prevailing rate of tax on such goods in the appropriate State. Article 246 governs the subject matter of the laws made by the Parliament and by the Legislature of States.

What is place of business under Central Sales Tax Act?

More than one place of business in the same state – If a dealer has more than one place of business in the same state , he shall select one of these places as the principal place of business and , get only one certificate of registration. 4. More than one place of business in different states.

What are the Offences and punishment U S 10 the CST Act?

Section 10(b) of Central Sales Tax Act, 1956 provides that if any person, being a registered dealer, falsely represents when purchasing any class of goods that goods of such class are covered by his certificate or registration he shall be punishable with simple imprisonment which may extend to six months, or with fine.

Who is registered dealer under CST?

An Auctioneer who caries on the business of selling or auctioning goods belonging to any principal, whether disclosed or not and whether the offer of the intending purchaser is accepted by him or by any principal or a nominee of the principal.

What is sale under CST Act?

Central Sales Tax (CST) is a tax on sales of goods levied by the Central Government of India. CST is applicable only in the case of inter-state sales and not on sales made within the state or import/export of sales. Inter-state sale is when a sale or purchase constitutes movement of goods from one state to another.

Which sales are exempted from CST?

Central Sales Tax is exempted on certain occasions, some of which are mentioned below:

• Central Sales Tax is excluded if outward freight is charged separately and if the outward insurance of goods are passed on to a buyer during dispatch.
• No CST is to be paid if goods are returned within 180 days.

What is Section 10A of Income Tax Act?

Income Tax – Section 10A of the Income Tax Act, 1961 (the Act for short) deals with special provision in respect of newly established undertakings in free trade zone, etc. For the purposes of section 10A, total turnover is sum of export turnover as well as domestic turnover…

What is sale price under CST Act?

Central Sales tax refers to the tax levied on sales generated during inter-state trade and commerce in a country. CST was collected as a percentage of the sale price of the commodity. The statute governing sales tax is Central Sales Tax Act, 1956. But this tax is no longer in force in the territory of India..

Who is unregistered dealer in GST?

Persons whose aggregate turnover in a financial year does not exceed forty lakh rupees are not required to be registered with the GST authorities. Such persons are called unregistered vendors. Any purchases from unregistered vendors do not attract GST.

Which sales are exempt from CST?

Central Sales Tax Exemptions No CST is to be paid if goods are returned within 180 days. CST is exempted in cases when a sale within a particular state is exempt. Any sale to SEZs and foreign missions are exempt from CST.