Vat adjustment
This query is : Resolved
10 October 2012
We have sold some material to my customer with 12.5% Vat in previous quarter, in the current quarter party have returned the same material to us & we have no local sale on this qtr, can we adjust vat of goods return to CST.
11 October 2012
Under Maharashtra VAT Act. excess ITC can be adjusted against liability under CST return.
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