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Central Sales Tax

Central Sales Tax. Central Sales Tax. Inter-State Purchases. Inter-State Sales. Invoicing with Declaration Forms. Inter-State Trade-Returns . Classification based Calculations. Physical and E-Return (State specific) . Features of Central Sales Tax. Inter-State trade with Declaration Forms

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Central Sales Tax

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  1. Central Sales Tax

  2. Central Sales Tax Inter-State Purchases Inter-State Sales Invoicing with Declaration Forms Inter-State Trade-Returns Classification based Calculations Physical and E-Return (State specific)

  3. Features of Central Sales Tax • Inter-State trade with Declaration Forms • Accurate CST calculation • Determine CST Liability • Generate Reminder and Covering Letter • Meets all accounting and statutory norms • Statutory CST Reports • Generation of E-Returns

  4. Inter-State Trade – Declaration Forms • Invoice transactions by selecting: • Form C – Inter-State Trade • Form E1/E2 – Transit Purchases/Sales • Form I – Sales to Special Economic Zones • Form H – Deemed Exports • Form F – Consignment/Branch Transfers Outside the State

  5. Accurate CST Calculation • CST calculation based on VAT/Tax classifications • Provision to enter multiple CST rates in a single invoice • Classification based Commodity-wise computation consisting of: • Inter-State trade • Exports, Deemed Exports and Imports • Stock transferred as Consignment/Branch Transfers • Classification based Registers for Interstate Purchases and Sales

  6. Determine CST Liability • Adjust CST dues against Input Tax Credit • VAT Computation report showing CST liability

  7. Generate Reminder and Covering Letter • Generate Reminder Letter on Non-receipt of Declaration Forms • Generate Covering Letter confirming the receipt of Declaration Forms

  8. Meets all Accounting and Statutory norms • Seamless integration with Accounts & Inventory • Meets all Statutory Requirements of CST Act

  9. Statutory CST Reports • Central Sales Tax returns: • Physical Returns for 19 States/Union Territories • E-CST Returns for 11States • Supporting Annexures for CST Forms

  10. Generation of E-Returns • Facility to generate e-returns for applicable States by exporting data: • Directly in the prescribed format or • To Templates prescribed by Commercial Taxes Department • Procedure of generating e-returns using Template files: • Download Templates from Commercial Taxes Department website • Copy files to Tally.ERP 9 installed folder • Export the data to respective template files • Save the Files and upload as prescribed by the Department

  11. Thank you

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