Raw materials purchased from other state
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 November 2012
Dear Expert,
My friend is the manufacturer of Rubber products, his factory is in Mumbai(MVAT) , has has purchased raw materials from Gujarat..
In the purchase invoice the said party charge
2% CST & 1% VAT..
Pls tell me how he can take input of VAT paid on purchase...?
Is there any benefit available for CST paid on purchase??
Pls answer shorty..
Its urgent
My friend is the manufacturer of Rubber products, his factory is in Mumbai(MVAT) , has has purchased raw materials from Gujarat..
In the purchase invoice the said party charge
2% CST & 1% VAT..
Pls tell me how he can take input of VAT paid on purchase...?
Is there any benefit available for CST paid on purchase??
Pls answer shorty..
Its urgent
24 November 2012
Input credit of only VAT can be availed. Input credit of CST is NOT available.
24 November 2012
Mr Author,
A seller cannot charge/collect both VAT and CST on the same transaction.On a local sale only VAT and on a interstate sale only CST is to be collected.You may ask the seller to refund the VAT collected on this sale. However as both these taxes are collected in Gujarat you cannot claim it as input in Mumbai.....MJK
A seller cannot charge/collect both VAT and CST on the same transaction.On a local sale only VAT and on a interstate sale only CST is to be collected.You may ask the seller to refund the VAT collected on this sale. However as both these taxes are collected in Gujarat you cannot claim it as input in Mumbai.....MJK
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- GST Regis.
- Tds on building rent monthly
- Sale of property furniture sale
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- RCM INVOICING FROM NOV-2024
- Individual capital equal to which assets of balance sheet
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
