05 October 2011
THE DEALER OF MAHARASHTRA SOLD GOODS IN PANJAB & CHARGED CST @ 2% & PAID THE SAME TO THE GOVERNMENT. LATER AFTER 3MONTHS THESE GOODS WERE RETURNED BY CUSTOMER DUE TO DEFECTS. THE AMOUNT COLLETED ON SALE OF GOODS WAS REFUNDED. SO THE QUESTION IS 1)CAN CST REFUND CAN BE CLAIMED. 2)CAN IT BE ADJUSTED AGAINST MVAT PAYABLE. 3)HOW IT CAN BE RECOVERED ?
13 October 2011
Mr Yogesh, You have to revise the return filed earlier reducing the sales of returned goods and tax liability.The succeeding returns are also to be revised to carry forward this excess tax the current month. On having some excess in the current month the same can be adjusted against any other liability. MJK
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