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What is H Form ?
View AnswerH Form is not applicable in case of Export Sales
It is applicable in case of Sales to Exporter.
Example:
H Form
•It is a form applicable in case of Sale to Exporter.
•It is given by exporter to seller
•Unlike other forms,Hform is applicable in Case of both Local as well as Central Sales
•It can be given by Registered buyers only
•It is given Quarterly party vise.
•One H form for all purchasesfrom one party in one quarter
•If H form given, Cstnotcharged
•If not given, then CST Charged at full local vat rate of Selling Dealer
Q3 GOODS PURCHASED FROM WITHIN STATE AS FOLLOWS
| A LTD,DELHI | |
| Purchase | 200000 |
| 20000 kg*I0/kg | |
| VAT 5% | 10000 |
| 210000 | |
Suppose Sales made as follows
| PARTY | STATE | TYPE | QTY | RATE | AMT | ||
| AJAY EXPORTS | DELHI | REGISTERED (H FORM) | 12000 | 15 | 180000 | ||
| VIJAY EXPORTS | KOLKATTA | REGISTERED(H FORM) | 3000 | 16 | 48000 | ||
| MAX AND CO | USA | 5000 | $1 | $5,000 | (Exchange rate 60/$) | ||
Pass entries
What is Tax payable?
| Vat Computation | Amt | CST Computation | Amt |
| Output Vat | 0 | Output CST | 0 |
| Input Vat | 0 | ||
| Vat Payable | 0 | CST Payable | 0 |
| Vat Credit | 0 | ||
| Less | Less | ||
| Adjust against Cst | 0 | Adjust against Cst | 0 |
| Balance Vat Credit | 0 | Balance CST Payble | 0 |
Purchase 5% Local Dr 200000
Input Vat 5% 10000
To A Ltd 210000
Ajay Exports Dr 180000
To Sales Local h form 180000
Vijay Exports Dr 48000
To Sales Central h form 48000
Max Ltd Dr 300000
To Sales Export 300000
For the purpose of Vat CST Return,Export Sales are Central Sales
