08 September 2013
Can I please know..why is credit/set off for CST paid on inter-state purchases not allowed while computing the net liability for VAT payable..??
09 September 2013
A state govt is entitled to one time full vat on a series of sale transaction starting from manufacturer/importer/producer to the consumer.In an interstate purchase CST paid goes to another state from which it is brought. In the present state it is first sale. On the basis of the above priciple of VAT laws in this country no input credit of CST on purchases is available.....mjk
CAclubindia
