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Q. > Please Help: consignment sale
how can we book the consignment sale. if we make consignment sale to delhi and receiver at delhi sale the goods and send the same to consigner at more or less amount then the consignment sale bill. Now the question is how the consigner have to book the consignment sale ( i.e whether the sale is to be book at consignment bill or at the amount of bikri send by the consignee.
answered Jan 19, 2012 by Ashish Karundia , New Delhi
Dear Saurab,
It appears from your query that in the instant case, the consignor sells the good to consignee at Rs. X (for example Rs. 100) and thereafter the consignee sells back the same goods to consignor at Rs. Y (for example Rs. 110 or Rs.90).
It may be noted that in such a case the sale by the consignor to the consignee has to be booked at Rs. 100. However, it may be noted such a transaction may be a sham transaction in which case the implications needs to be analysed.
Hope the above suffice. Further, it is requested to mention that whether the sale is a local sale or an inter state sale.
answered Jan 20, 2012 by Ashish Karundia , New Delhi
Dear Saurabh,
Please note that Form F is used for stock transfer of goods and not for sale as per Section 6A of the CST Act, 1956. However, it appears that Y of Delhi is acting as an consignment agent for 'X' on whose behalf the goods are sold by 'Y' in Delhi. If this is the fact,then in such a case 'X' sales at the amount at which it is sold by 'Y' in Delhi.
Hope the above suffice.
answered Feb 19, 2012 by Mrattunjay , New Delhi
simple use Form F and booking as per procedures
answered Jul 02, 2012 by Rambabu Senkarasetti , Guntur
I agree with the above answers.
answered Jul 02, 2012 by Rambabu Senkarasetti , Guntur
I agree with the above answers.
Experts Panelist
Comments
saurabh goyal
20-Jan-2012 , 06:11:18 pmdear ashish the facts are as follows X of chd make consignment sale to y of delhi against F forms. then Y sold the same goods in delhi and send the bikri to Mr. X of Chd. Now my question is at what amount sale shall be booked by Mr X in his books.