set off of vat/cst
This query is : Resolved
30 October 2009
please tell me the cases of setoff of cst sale with cst purchase & setoff of cst against vat or vice versa
30 October 2009
No input credit allowed on CST Purchase
Only local vat purchase can be setoff with output vat & CST libility.
Only local vat purchase can be setoff with output vat & CST libility.
31 October 2009
You cannot set off CST sale with CST purhcase. No input credit is allowed on CST Purchase. Setoff of CST is not possible against VAT or CST. Local Input VAT can be setoff against Output VAT or CST, since you can take credit of Local Input VAT only
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