Sub:
Procedure to be followed for obtaining I-Forms for
availing CST exemption
Developers
of Special Economic Zones and units within all Special
Economic Zones are exempt from payment of Central Sales
Tax (CST) levied under the Central Sales Tax Act, 1956 for
all material procured for authorised operations and liable
to such levy. In accordance with the procedure prescribed
under the relevant Rules and in consultation with the
Commissioner of Commercial Taxes, Government of Karnataka,
a procedure has been evolved for claiming this exemption.
2.
CST is liable to be paid before dispatch of goods
by supplier and in order to avail the exemption, Form I
has to be furnished to the supplier. In normal cases of
exemption, the form is issued by the Commercial Taxes
Department in whose jurisdiction the buyer operates. Under
the CST Rules, for SEZ operations, Form I is required to
be issued with the endorsement of the Development
Commissioner. Form I is a sensitive document and requires
careful usage. Accordingly, office of the Development
Commissioner will print and supply the forms on a
cost-recovery basis.
3.
The following procedure shall be followed by
eligible persons seeking exemption from CST:
a)
The authorized signatory of the developer/unit
shall apply for specified number of I-Forms to the office
of the Development Commissioner.
b)
The developer/unit shall depute an authorized
person to this office to collect the I-Forms who shall
carry the request for I-Forms and an authorization letter.
c)
The authorized person shall fill in the necessary
details in Para-1 of all the I-Forms. The details viz.
name & address of the unit, LOA No. & date, CST
Registration No. & date etc.) shall be affixed or
filled in on the I form.
d)
The developer/unit is required to maintain a
register of declaration in the following format, which
will be produced as and when required by this office:
| Sr.
No. of I- Form |
Name
and address of seller |
Invoice
No. |
Description
of goods |
Invoice
Amount |
CST
Foregone |
| |
|
|
|
|
|
Payment
Details: Rs.150/-
for a booklet containing 25
I-Forms
Mode
of payment: Demand
Draft to be drawn in favour of the Development
Commissioner, Cochin Special Economic Zone.
4.
In case of any difficulty, the matter may be
brought to the notice of the undersigned for remedial
action.
(C
J Mathew)
Development
Commissioner
