we have purchase from gujrat (CST@2%) and sales local 12.5%.to kya hume 2% credit milta hai ki nhi.kyonki vat to hum collect karke paid kar dete hai.cst to paid hi kar dete hai pruchase ke time per.how to adjust cst & vat.?
24 April 2012
As per your above data, if you are selling in local state then you have to pay Rs. 12500/- as above said
but if you sell that product to other state with C form @ 2% Rs. 2000 CST or without C Form @ 5% Rs. 5000/- then pay whichever you have collect by CST Sales
if you have purchased that product with in state then first you have to pay Rs 12500/- as local vat on Rs. 100000/- i.e (100000+12500=112500) and if you sell that items in Rs. 110000/- with in state then treat will be 13750/- of VAT on Rs. 110000/- i.e ( 110000+13750=123750)
CAclubindia
