can vat can be set off against cst?
This query is : Resolved
04 April 2011
sir,
i want to know the answer of the following queries:
1. weather cst credit received on purchase can be set off against payment of vat tax?
2.weather Vat Credit received on purchase can be set off against cst tax?
3. what is accounting treatment?
i want to know the answer of the following queries:
1. weather cst credit received on purchase can be set off against payment of vat tax?
2.weather Vat Credit received on purchase can be set off against cst tax?
3. what is accounting treatment?
04 April 2011
No input credit allowed of CST
Input vat credit, can setoff against CST liability.
Input vat credit, can setoff against CST liability.
15 April 2011
1. CST credit on Purchase can not be set-off against Vat liability.
2. Input VAT credit can be set-off against CST liability.
3. Credit the Input Account and debit the CST liability account.
2. Input VAT credit can be set-off against CST liability.
3. Credit the Input Account and debit the CST liability account.
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