Vat/cst on capital goods and inputs

This query is : Resolved

Dasharath Appa Pujari (Querist)
Follow

21 October 2012 Dear All,

Can entire portion of vat/cst paid on purchase of capital goods be used to discharge the Output VAT/CST liability?

Can CST liability (2% or 12.5%) be discharged by utilising the Input VAT credit?

Can CST paid on Inputs be used for discharge of Output VAT/CST liability?

CA Dileep Surya Kumar

CA Dileep Surya Kumar (Expert)
Follow

22 October 2012 01.CST paid can not be claimed as a input credit either for payment of VAT or CST.

02.VAT paid on purchase of capital goods can be sef off against VAT liability subject to other conditions.

03.VAT input credit can used for payment CST only after VAT liability subject to other conditions prescribed under state vat laws.

Message likes : 2 times