Can cst/vat be adjusted

Hi Sharique,

1. No. You wont get any credit / setoff for CST paid on purchases, It should be added to net purchase.

2. Again No. CST paid on purchases can not be adjusted against CST payable. But if you have excess vat (Input vat less output vat), then you can adjust the same with CST payable.

3. Assuming you have separate billing locations at Gujarat & New delhi, you will get credit for input vat for goods purchased from Gujarat & since you will charge output vat for goods sold at UP, question of 10% does not arise.

4. Yes you can. You will be still having 3% credit (5% input vat less 2 % CST)

Dear experts - Please correct me if I am wrong & adivice me & Sharique accordingly.

Thanks

1. no

2. no

3. For Purchase in Gujrat You Will get Input Tax Credit @ 3% (2% Retaintion for Stock Transfer) and you Will Charge Local Vat @ 5% in Utterpradesh Total Vat Payment= 5+2 = 7%

4. Yes You Can Claim Vat Input from CST output...... Still You Have 3% Excess Credit, Claim it From Vat Payble

Thank you Mr.Shetty and Mr. Kumar.

Furthermore, I would like to ask if there is excess 3% VAT (As in case 4) - Can it be setoff against CST Payable on raw materials (As in case 2)?

Yes you can reduce the cst payable amt from the excess input credit.

WHAT IS PROCESS OF CST FOR C FORM APPLICATION 

Yes You Can Adjust Input Tax Credit with CST Payble

Thank you Mr.Shetty & Mr.Sonu.

I would like to know if the VAT paid on purchase is refundable in full and complete in case of stock transfer or interstate sale? Is complete 4%/5% refundable/adjustable or anything paid in excess of 4% is only refundable? I am asking this because of the below excerpt from white paper-

"Even for stock transfer/consignment sale of goods out of the State, input tax paid in excess of 4% will be eligible for tax credit."

Sir, We pay input VAT 5% for certain goods & do interstate billing for CST 2% against C form. We will pay the 2% CST. Shall we adjust the whole 5% Input VAT against Tax Payable

Sir,

My question is what do we do with the (cst on sales - cst on purchase) ? Is it adjusted with the VAT ?

Dear Sir

Please give me solution to my query I have excess VAT (Telangana State)  credit amount Rs.200,000/- in form 200, CST Liability Rs.100,000/- by mistake am transfered total VAT credit amount to CST (Form IV), now can i adjust this Excess CST amount to current CST Liability?

Dear sir,

please reply one question how can adjust in cst to vat ( up return only )

Cst credit and vat payable

i can adjust cst to vat...please reply