I have purchased some goods on vat @ 5% and sold the same goods on 2% cst. Can I avail input credit.
Bhupender singh
JAINENDRA JAIN
(ACS/CA)
(1668 Points)
Replied 26 December 2014
te interstate purchase liable to cst are not applicable for input tax credit.
however liability forcst can be set off against the input tax credit earned on other eligible purchases.
regards
Piyush Tanwar
(Assistant Manager - Accounts)
(1432 Points)
Replied 27 December 2014
You can avail input tax credit on the purchases within local state against TAX INVOICE.!
Same goods sold on CST @ 2% is not the condition to avail input tax credit or not!
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
