PURCHASES FROM VAT DEALER

This query is : Resolved

rajesh (Querist)
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19 September 2009 DEAR SIR/ MADAM

AN ASSESSEE PURCHASED FROM VAT DEALER AND SAME STOCK SOLD OUT OF STATE IN THIS CASE

1. ASSESSEE IS BROUGHT FORWARD OF VAT INPUT IN BALANCE SHEET (OR)

2. VAT INPUT SHOWN IN P&L A/C.

3. CST 2% AND CST 4% IS SET OF WITH VAT INPUT A/C

PLEASE TELL

THANKS IN ADVANCE

CP Ram

CP Ram (Expert)
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19 September 2009 First of all, VAT Input will be used for set off against CST 2% and CST 4% liability and if any excess VAT Input is left, then that is to be shown in Balance Sheet under Loans and Advances (Current Assets).

rajesh

rajesh (Querist)
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20 September 2009 THANKING YOU CHANDRAPRAKASH GARU

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