11 April 2012
I have a shop and i have purchased goods to b sold at my shop from a manufacturer in Punjab.I placed the order through his agent here. The manufacturer shipped me the goods directly and billed me at CST 2% and Forwarding charges also. Now should this purchase come under local Purchase (as I placed the order thru the agent) OR Interstate purchase when i file my VAT return
11 April 2012
Thanx for prompt reply. I was not asked by the seller to give Form C. As this is my first interstate purchase, where in the form do i show the tax paid for interstate purchase. Will this b shown only in Form 1, where?
11 April 2012
you can not take itc on interstate purchase so in your vat return it will so in purchase in gross value and deducted also so that local taxable will reflect but you have to file your cst annexure with seperate value of product & cst 2% tax
13 April 2012
The goods that i purchased interstate are sold here (locally). So all this will come under local turnover. or do i have to show the sale of only these product under central turnover which is hardly Rs1000 only as i have not sold the entire goods that i purchased. Please clarify
13 April 2012
yes,sold goods in state will come under local t.o. without taking itc of interstate purchase you have to calculate output tax less local input tax and pay the excess output
CAclubindia
