Reverse credit of input vat against cst sales(tamilnadu)
Iyappan R (Manager Accounts) (53 Points)
18 April 2014Iyappan R (Manager Accounts) (53 Points)
18 April 2014
CA Gaurav Mittal
(Partner)
(1230 Points)
Replied 18 April 2014
Suppose input tax credit of 30% TN purchase = Rs 30
Output Tax on sale in TN of 10% = Rs 10
You are eligible for tax credit of Rs 20