Will someone please explain me the tax treatment in case of interstate purchase for VAT/CST?
I namely want tax goes to which state both in purchase & sell?
With example please, if possible.
2 Replies
Mahaveer
(Article)
(27 Points)
Replied 19 April 2014
Interstate purchase not eligible for set off under mahavat.only vat purchase can be set off under mahavat. If vat on purchase is more than vat on sales than excess vat amt can be set off against cst sales.
Sanmitra Sanjeev Ratnaparkhi
(-)
(223 Points)
Replied 19 April 2014
Example please specifying to which state it goes, in case of purchase as well as sell?
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