Input adjustment

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 September 2013 Hello Sir
i have purchase plastics goods from a local party on vat 14% ,& sale these goods to another inter state party on Agst CSt 2%,the question is that can i liable to pay the in deptt or not,
Detail Under Below
Input 14%=1600/-
CST Payble=1000
can i adjust cst with input ,Please guide,because it is trading i can understand it properly

CA Pallav Singhania

CA Pallav Singhania (Expert)
Follow

30 September 2013 CST liability can be set off against Vat Credit,

Cst liability 1000
less: ITC Credit 1600

ITC credit 600

Credit still available 600, which can be set off against sales in future...

Querist : Anonymous

Querist : Anonymous (Querist)

30 September 2013 Thanks sir
but in trading can it possible

Upgrade to CAclubindia Pro. Subscribe Now!