Sir, I have some confusion on Vat & CST inter-state and intrastate meanings. 1) Mr. A is AP purchased good from another state so vat & cst is chargable or not? 2) Mr. A is AP purchased goods in same state and sold out in same state so which vat & cst both chargable or not? 3) Mr. A is AP purchased goods in same state and sold out in another state so vat & cst is chargable or not?
3 Replies
Abhishek
(Student CA IPC / IPCC)
(143 Points)
Replied 30 November 2016
if purchased from other state the
Abhishek
(Student CA IPC / IPCC)
(143 Points)
Replied 30 November 2016
of purchased from other state then CST will b charged by seller n I'll get added to purchase price.
if purchased from same state u can claim VAT input
of u sell goods to other state then ur suppose to charge CST
if purchased from same state u can claim VAT input
of u sell goods to other state then ur suppose to charge CST
saravanan
(Accountant)
(30 Points)
Replied 04 December 2016
CST meaning Central Sales Tax.
Interstate means goods purchase from one state to another state. when you purchase a goods in another state CST will be charged 2% or 5% or 14.5%. if you provide C form for that purchase. you will be charged @ 2% or local tax will be charged in the name CST.
If you purchase goods from one state and sell in the same state VAT will be charged and collected @ 14.5% or 5%. CST will not applicable.
You can open a branch in the same state. so local tax on goods will be applicable.
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