C forms cannot be declared invalid if the purchaser ceased to exist while issuing and seller is unaware of it- Karnataka HC

0 comments Monday, August 8, 2011
Karnataka High Court has held in an important case namely Bell Ceramics Ltd. Vs DCCT that if the purchaser of goods issuing C forms has ceased to exist at the time of issuing C forms and such fact is not known to the seller of such goods claiming concessional rate of CST on the basis of such C forms then no disallowance of such concessional rate can be made to the seller on this ground.
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Finance Minister is confident of DTC implementation from 01-04-2012-study time ahead for tax professionals

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Union Finance Minister has said that there would be no difficulty to bring Direct Tax Code, DTC into operation from 1st of April next year. Mr. Pranab Mukherjee expressed hope that the Parliamentary Standing Committee will submit its report by Winter Session of Parliament. Speaking at a function in New Delhi, the minister said, since the Bill is still with the Standing Committee, stakeholders have time to give their views.
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