Dear Sir,
I have trading company whose head office is in Bangalore and we have another branch in Gujarat.
We purchase raw materials from Gujarat by paying 5% Gujarat Vat and make interstate sales to manufacturing companies using C form at 2% CST. I know that 2% CST can be adjusted in this case from 5% VAT which we paid while procuring goods but i would like to know if 3% (5% Vat - 2% CSt = 3%) excess input VAT which is left can be refunded or not. If yes, How much time does it take normally? Thank you.
CAclubindia
