Cst setoff

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 February 2014 WE HAVE VAT RECEIVABLE OF CURRENT YEAR AND WE HAVE PURCHASTE GOODS FROM SOME OTHER STATE AND PAID CST ON THEM.. SO WE CAN CLAIM INPUT TAX CREDIT ON CST PAID OR NOT..UNDER MVAT..

THANKS IN ADV

CA Deven

CA Deven (Expert)
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11 February 2014 VAT credit can be utilised to set-off CST liability

Querist : Anonymous

Querist : Anonymous (Querist)

11 February 2014 WE DONT HAVE ANY CST LIABILITY WE PURCHASE GOODS FROM OTHER STATE SO WE CAN GET INPUT SET OFF FOR THIS OR NOT..??

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CA Deven

CA Deven (Expert)
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12 February 2014 NO YOU CANT SETOFF YOUR CST CREDIT AGAINST YOUR OUTPUT VAT LIABILITY ....CST WILL BE COST TO THE COMPANY

Querist : Anonymous

Querist : Anonymous (Querist)

12 February 2014 SIR WE DONT HAVE ANY VAT LIABILITY WE HAVE VAT RECEIVABLE THIS TIME...AND PURCHASED SOME CST GOODS...SO WE CAN ADD CST PAID IN VAT RECEIVABLE OR NOT..??

PLEASE REPLY SIR..

CA Deven

CA Deven (Expert)
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12 February 2014 NO YAAR HOW CAN YOU CLUB VAT WITH CST

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

12 February 2014 SIR WE DONT HAVE ANY VAT LIABILITY WE HAVE VAT RECEIVABLE THIS TIME...AND PURCHASED SOME CST GOODS...SO WE CAN ADD CST PAID IN VAT RECEIVABLE OR NOT..??

PLEASE REPLY SIR..