Question

Explain the salient features of central sales tax act 1956

Answer 1

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The following are the salient features of central sales tax act ,

1956 :-

1.Scope – The central sales tax act extends to the whole of

India .

2. Levied by Central Govt.-: The CST is leveied by the

Central Govt. but it is collected by State Govt.from

where goods have been sold.

3. No Exemeption Limit-: CST is levied on turnover and

there is no exemption limit on turnover.

4. Administered by State Govt.-:The sales tax

authorities of State Govt. are authorities for the

purpose of CST.

5. Concessional Rates-: Concessional rates of CST is

applicable if declaration in Form C is issued by purcahser

who is a registered dealer.

6.Sales are exempted-: Certain sales are exempt under

CST if-: a)Sale is within state as it subject matter of VAT

b)Subsequent sale is there c)Sale or purchase in the

course of exports and imports.

7. Types of good – under the act, goods have been

divided into declared goods and other goods. On

Declared goods CST is charged at the rate not more than

5% and not more than once,while tax charged on other goods is Local State Sale tax.

Answer 2

Features of central sales tax act 1956:

• Scope: The federal tax act on transactions applies to India as a whole.
• The central Government levies the CST. But it is collected by the State Government from where it sold goods.
• CST is levied on turnover, and turnover is not exempted.
• State Government's sales tax authorities. Concessional CST rates apply if a statement in Form C is given by a licensed dealer who is a purchaser.
• Sales are in effect as they are subject to VAT, subsequent sales are in effect and sales or purchases during exports and imports.

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