Dear All, As you know as per Budget 2008-09, CST rate is 2% since 1st April 2008. But till time no notification is coming from Sales tax department. Then what we have to charged 3% or 2%. Please give solution asap. Thanks & Regards CA. B.K.BANSAL
175 Replies
RANDHIR KUMAR SINGH
(ACCOUNTANT)
(34 Points)
Replied 02 April 2008
hi, till the time it does not get notified the effective rate will remain the rate which is notifed i.e,3% instead of 2%........thx
Assessee
(advocate)
(108 Points)
Replied 02 April 2008
in central budget 08 the proposal is that 2% cst efficative from 1-4-2008 and they also proposed up till 2010 the cst will be nil so as per my openion 2% will take effect 1-4-2008
astha
(CA, CS)
(85 Points)
Replied 03 April 2008
Though the rate of CST has been reduced from 3% to 2%, no notification has been issued in this respect. As such there is no other option but to charge CST @ 3%. Also in the respective state budgets it has been said that amendments will take place after the notification has been issued. We are also charging CST @ 3% in the absence of any notification.
CA O.P. SINGH
(O P Singh & Co.)
(426 Points)
Replied 03 April 2008
since no notofication received till date it will be 2%....
CA O.P. SINGH
(O P Singh & Co.)
(426 Points)
Replied 03 April 2008
sorry i have mentioned by mistakely 2% actually it will be 3% ....
C.A Alok Mukherjee
(service)
(462 Points)
Replied 03 April 2008
It will be 3% till such time the notification issued. Chennai Commissionerate had already issued a directive to the departmental officers conforming CST rate 3% till such time notification conforms the rate. Therefore, please carry the sales billing by charging CST rate at 3% as usual, and if later on, the CST rate 2% is conformed retrospectively from 1st April; adjustment can be made by issuance of credit note.
(Guest)
Today, 8th April 2008, Chief Ministers of all States met with Finance Minister of India to decide the final otutcome for reduction of CST from 3% to 2%. No fruitful result came and as shown in the www.taxindiaonline.com that "UNCERTAINNTY HOVERS OVER CST RATE CUT NOTIFICATION; 3% RATE CONTINUES TO PREVAIL".
Regards,
Man Mohan Gupta
Executive -Sales Tax (JSL)
(Guest)
Today, 8th April 2008, Chief Ministers of all States met with Finance Minister of India to decide the final otutcome for reduction of CST from 3% to 2%. No fruitful result came and as shown in the www.taxindiaonline.com that "UNCERTAINNTY HOVERS OVER CST RATE CUT NOTIFICATION; 3% RATE CONTINUES TO PREVAIL".
Regards,
Man Mohan Gupta
Executive -Sales Tax (JSL)
Recent Topics
- NRO Interest - Taxed at source and in Foreign Coun
- Clarity needed on effective date
- Income Tax Refund Deadline Shortened to Five Years
- Rectification Applications for Past GST Demands
- Where can I find a trusted provider to hire a skip
- GST Invoices Series
- FILING OF ITR AY 20-21
- CLAIMING OF U CLAIMED RCM
- Building construction works
- REGARDING GSTR-9 F.Y 2023-24
Related Threads
CAclubindia
