Amit Gupta (Loosening Myself) (1508 Points)
04 November 2009Is it possible to charge cst and vat in a single invoice. what will be accounting and taxation treatment thereon??Pl accompany ur ans with the act or rules reference.
tk cr:)
CA Trinath Galla
(student)
(3130 Points)
Replied 04 November 2009
cst is for inter state sales
n vat is is for sales within the state.
both can not be levied in one invoice
subramanya
(Professional)
(907 Points)
Replied 04 November 2009
| Originally posted by :Amit Gupta | ||
| " | Is it possible to charge cst and vat in a single invoice. what will be accounting and taxation treatment thereon??Pl accompany ur ans with the act or rules reference. tk cr:) |
" |
Mr. Amit Gupta
In a Single Invoice, how you can make Local Sales and Interstate Sales.. ?
This scenario does exist at all....
Deeps
(Article Assisstant)
(2485 Points)
Replied 04 November 2009
hi CST is levied on Inter- state sales. VAT is on Intra- State Sales. Both will not go together.
Dinesh Dave
(service)
(30 Points)
Replied 05 November 2009
| Originally posted by :Amit Gupta | ||
| " | Is it possible to charge cst and vat in a single invoice. what will be accounting and taxation treatment thereon??Pl accompany ur ans with the act or rules reference. tk cr:) |
" |
A single sale transaction can either be Inter State or with in state. Thus either CST for Inter State or VAT for with-in-state can be levied. Both doesnot go togather.
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