can credit of CST b taken from VAT input?

Payment of TDS/TCS paid by "e-payment" is mandatory for Ltd. or Pvt. Ltd. Co. now

Please repply me above is mandatory or not

re : vat & cst adjustment

input vat Rs.5,00,000

output vat Rs. 6,00,000

cst Rs.3,00,000

is total payable amt is Rs(600000-500000)+300000=400000

thanks a lot vineet..this piece of information was very helpful

purnima

Miss Indu

Is ur doubt clg , call 09848560326

Originally posted by : Vineet Bansal
	Originally posted by :indu gurjer " Dear Indu, 1.Under HVAT, 2003 we can take the credit of VAT paid on inputs/capital goods purchased. Now, this available input credit can be utilised to pay our VAT liability on the sales made within the Haryana(i.e. Local Sales). If our VAT liability  on the sales made in the haryan(Local Sale) is less then the Input Credit available, then the balance Input Credit (balance after utilising for payment of VAT liability on local sale) can be utilised to pay our CST Liability.  2. we can not take the credit of CST paid on purchase of Inputs/Capital Goods. Example: VAT paid on Purchases = Rs. 100 CST Paid on Purchases = 50 Therefore, total input credit available = Rs. 100 only Now, suppose VAt liability on sales made in Haryana = Rs. 50 CST liability on interstate sale = 500 Now out of total credit of Rs. 100 we can use 50 Rs. for payment of our VAT liability. Balance Rs. 50 can be utilise for the payment of our CST liability. Thus Rs. 450(500-50) for CST liability we will have to pay in cash. Crux: VAT paid on Purchases - We can take the credit and can utilise for payment of both VAT and CST CST paid on Purchases  - We can not take the credit.   Vineet Bansal "

dear friends

agree with this explanation.

In Haryana Quarterly Returns VAT R1 there is also coloum for that and yes during assessment papers i.e Annually Return named as VAT R2 & its summary you have to show this seprately.

Regards

CS Nitin Grover

+91-9582009494

+91-9015182024

Originally posted by : keshav
	re : vat & cst adjustment input vat Rs.5,00,000 output vat Rs. 6,00,000 cst Rs.3,00,000 is total payable amt is Rs(600000-500000)+300000=400000

Dear Keshav

yes its 4,00,000 rs payable but 1,00,000 as VAT + 3,00,000 as CST. this is quite simple case

but there question is if

Input Vat 600000

Output Vat 500000

CST 300000

then VAT Excess 100000 CST Payable 300000

so excess VAT will be adjust with CST and net effect

is VAT - NIL + CST Payable 300000

Regards

CS Nitin Grover

+91-9582009494

+91-9015182024

If i take the CST on Vat credit online on April 2010, what is the reverse entry... i do In tamil nadu...

Kindly the gave rectification...

under which rule of Hvat,2033 it is described that If our VAT liability  on the sales made in the haryan(Local Sale) is less then the Input Credit available, then the balance Input Credit (balance after utilising for payment of VAT liability on local sale) can be utilised to pay our CST Liability. 

Dear All,

               please help me, we are purchasing goods from maharshtra and paid   CST @ 2% but one of our saller charged VAT @ 5% of same state maharshtra , can we avail credit while paying VAT in MADHYA PAREDESH.

Thank you

Can Credit of CST be utilised for the payment of CST liability?

we only interstate sales & export sales. we don't have vat sales.

But we have purchases of  vat & interstate.

now our inter state sales is  - 100000, cst @ 2% =2000

EXPORT SALES IS -100000

vat putchases - 120000 x 5.5% =6600

interstate purchases is -50000 x cst 2%=1000

now tell me the adjust ment enty

Plz rely urgently..

Thanks

harish