My company is registered in maharashtra. I want to know whether the CST paid during the purchases made from the other states are eligible for a set off while filling VAT?
For Eg:-
X purchased from karnatka for Rs 100000 & CST is paid @2% which is Rs.2000/- Same X sold in maharashtra for Rs.200000 and VAT received @12.5% which is Rs.25000/- Whether i need to pay Rs23000(25000-2000) OR 25000? Whether CST which is already paid will be set off?
CAclubindia
