04 February 2009
Refund of VAT can be adjusted against CST liability. But whether Refund of CST can be adjusted against VAT liability. If yes, Please provide the trade circular number.
04 February 2009
First of refund is possible in CST only if it has been paid in excess because no input credit is available. In my opinion the only option available is to claim refund and no adjustment is possible against local VAT.
CAclubindia
