02 January 2015
A company has vat Purchases (local purchase) and CST sales against “C Form” (don’t have any local sale). Can we avail input vat credit; I mean to say "can we avail input against CST payable". please clear me with an example
03 January 2015
First:- CST payable can be set be setoff against VAT Input Tax Credit
Second:- In our case there is no local sale but local purchases then Interstate sale. In above case depends on states, reversal of input tax credit is also required as per rules and provision.
CAclubindia
