29 February 2012
Can Local Vat Paid on Purchases, shall be adjusted against CST Sales without "C Form" whether this adjustment is correct or wrong...??
29 February 2012
For interstate Purchase you can avail input credit and adjusted to output tax. bt CST is collected by central govt. you have to pay. If you will not issue C form then they have to full amount of tax to Govt.
You can take setoff of Local VAT purchases against CST Liability. You can adjust this if and only if you have Excess vat setoff after adjusting local vat sales liability.