input VAT credit on CST Payable
This query is : Resolved
10 March 2008
Please help me?
Can a manufacturing concern adjust its CST liablity with input VAT Credit-Rajesthan
Can a manufacturing concern adjust its CST liablity with input VAT Credit-Rajesthan
10 March 2008
I think NO
10 March 2008
NO
10 March 2008
suppose a manufecturing concern received a purchase invoice of raw materials with VAT.
after production, finished product sold with CST.
so the concern must adjust input credit with CST.
bcoz the VAT payable calculated as below:
output VAT+CST-input VAT
after production, finished product sold with CST.
so the concern must adjust input credit with CST.
bcoz the VAT payable calculated as below:
output VAT+CST-input VAT
11 March 2008
http://rajtax.gov.in/vatweb/download/cir_noti/CIR/Circular-F.120(Insp)(Inst)TaxCCT851849.pdf
Cut paste this link for the circular.
You can adjust excess vat against your CST liability
Should there be a further need for clarification do let me know
Cut paste this link for the circular.
You can adjust excess vat against your CST liability
Should there be a further need for clarification do let me know
11 March 2008
thank u all.
but pls lemme know that since CST is a centre concern not of state ,than why we are adjusting it with the state level VAT
but pls lemme know that since CST is a centre concern not of state ,than why we are adjusting it with the state level VAT
27 March 2008
Mr. Himanshu, CST imposed by Central Govt. but collected & retained by State Govt. So input VAT credit adjusted with CST.
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