dear sirs/mams
can any one tell me the reason for output cst can be adjusted aganist input vat but input cst canot be adjusted with out put vat?
kindly do this,
dhanalakshmi (ipcc) (87 Points)
16 May 2012dear sirs/mams
can any one tell me the reason for output cst can be adjusted aganist input vat but input cst canot be adjusted with out put vat?
kindly do this,
ashish gupta
( student)
(1922 Points)
Replied 17 May 2012
Because output CST is payable to the local state govt (from where the goods are sold). thats why it can be adjused with the input VAT paid in that state.
But Input CST is paid to the state from which we have purchased the goods. So local state will not give credit of the CST paid to the other state and it cannat be adjusted with the VAT liability of the local state.
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