Issue of c form invoice date? or material receipt date issue ...
Parveen Kumar
(Querist) 02 January 2013
This query is : Resolved
There is a lot of confusion regarding the issue of Form "C" whether on Invoice date of material receipt date especially from Issuing Companies.
The Seller often asks for C form based on the Invoice date and many customers are debating that since the material is received by them in next quarter or especially in case of year end transactions wherein the material is received by the Customer in different financial year say in April end etc. In such case they are not ready to issue form c in previous financial year. Despite of insisting that the Invoice date is the criteria for issue of form "c" .they say that it will be issued only in next financial year. i.e.material receipt month.
Kindly advise especially year end transaction issue.
Raj Kumar Makkad
(Expert) 02 January 2013
Form C is required to be issued on behalf of buyer so they are right in their approach to issue only on receipt of purchased material. Seller cannot insist to issue on the date of invoice.