24 August 2012
I am new to CA articleship and I couldnt figure out this problem, so do care to reply:-
If I a registered dealer of J&K state having TIN No. purchases goods from other state which are taxable @ 13.5% in J&K but exempt in the other state, how much CST I have to pay if a) sale is against Form C, b) sale is without Form C. Present Normal CST rate being 2%.
28 August 2012
Mr Himanshu, I beg to differ from my friend Mr Kochar. When there is tax in the selling state then VAT is applicable at the respective rate even if it is exempt in the receiving state.'C' form can also be used to reduce this CST to 2%.....MJK
29 August 2012
I mean, if sale is effected from the state where local tax rate is 0%, No CST will be charged on interstate sale.In my reply it was said that if tax rate is 0% in the state of seller. Is it clear?
CAclubindia
