SALES TAX IN SETTLEMENTS

abhishreshthaa

Abhijeet S
Settlements – Sales Tax


Incidence of Sales Tax

Sales tax to be discharged by the clearing members

Receiving clients to pay sales tax to the delivering clients thru Clearing Members

Sales tax based on quality/quantity delivered by seller


Settlements – Sales Tax


NCDEX shall verify the information provided by Buyer & Seller with Sales Tax master to arrive at Sales Tax incidence.

Invoice to be submitted by seller client to buyer client at the Delivery value of the transaction through clearing members


Delivery valuation for Sales Tax


(Delivered quantity X Final settlement price) + or – (Premium/discount for grade actually delivered)
 
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