Confirmation for tin registration and documentation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 August 2011 Dear Members

I have a partnership firm,M/S AAKASH FILTERS registered at Indore on 30.4.2011 for the trading of Air Pollution Control Equipments.

I need clarification on the following points mentioned below.

1.Our TIN No. is VAT TIN NO. as well as CST TIN NO.?

2.What is the applicable VAT and CST in M.P.? Confirm applicable CST@ % against C form and without C form what is the % to be charged(for sending our quotations)?

3.What's the procedure to claim VAT/CST?Do we need to ask for documents or references to the CUSTOMER and provide it to the VENDORS?

Kindly check and confirm for the same.

U S Sharma

U S Sharma (Expert)
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12 August 2011 1. TIN / Vat no is for local buy/sale, you need to apply and get CST no apart from VAT no for transaction of out of state ( buy or sale both)

2. for the rates you need to look in to schedules of MP VAT site with your product classification, CST is 2% with C form .in absence of C form full vat rate is applicable as CST.

3. Vat is eligible for input credit, provided the local vendor has put your VAT no in their invoices, you can claim the Vat paid on local purchase to set off the tax liability at the time of filing returns with VAT. CST is not eligible for input credit.

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