Get Form I Return See Rule 7 Of The Central Sales ... - Legal Pundits

Filling out the FORM I RETURN is a critical step in complying with the Central Sales Tax regulations in Orissa. This guide will walk you through each section of the form, providing clear instructions to ensure accuracy and efficiency.

Follow the steps to fill out the form effectively

1. Click the ‘Get Form’ button to obtain the form and access it in the editor.
2. Indicate whether this is an original or revised return. If it is revised, enter the date of filing the original return and the acknowledgment number. Additionally, attach a note explaining the reason for revising the return.
3. Provide your Tax Identification Number (TIN) and the period covered by the return by filling out the respective fields for the date and month.
4. Enter the name and style of the business in the designated field.
5. Fill out the address and contact details, including the phone number and email in the appropriate sections.
6. Declare the value of goods dispatched outside the state, specifying whether it was a branch transfer or consignment sale. Include the monetary amounts.
7. Report the sale price received or receivable for goods sold during the period, separating details for interstate sales and exports.
8. Deduct specified costs such as freight and discounts from the gross amount received. Ensure calculations are clearly listed.
9. Calculate the net taxable turnover by subtracting total deductions from the gross amount.
10. Provide a breakdown of the net taxable turnover, including sales values and corresponding tax due at different rates.
11. Calculate interest payable for delays as applicable during the tax period.
12. Adjust any taxes against excess ITC and detail the remaining balance payable after adjustment.
13. List out payment details, including names of treasury or banks where tax deposits were made, along with reference numbers.
14. Finalize the declaration by having the authorized signatory complete their information, including signature, place of signing, name, date, and status.
15. At the end of the process, save changes and choose to download, print, or share the completed form.

Begin filling out your FORM I RETURN online today to ensure compliance and accurate reporting.