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CST & VAT

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(Querist)
15 September 2010 WHAT IS THE DIFFERENCE BETWEEN CST AND VAT?
DO WE GET CREDIT FOR CST IN VAT?
WHAT ARE THE VARIOUS RATES APPLICABLE IN BOTH THE CASES..?
ALSO WHAT EXACTLY DOES FORM C SHOWS?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
15 September 2010 VAT is the sales tax on intra state purchase and sale (which is with in the state)

CST- is the sales tax on inter state purchase and sales( which is outside the state)

CST present rate is 2% and VAT is based on state VAT act, generally VAT is 5 % or 13.50%

C form is the form issued by purchaser for getting 2 % rate OF CST
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mohinder kansal

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mohinder kansal (Expert)
15 September 2010 credit of CST in VAT is not available
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