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Reverse credit of input vat against cst sales(tamilnadu)

Others 976 views 1 replies
Dear Sir,
We are a registered dealer manufacturer unit in Tamil Nadu. we have purchase the Raw material from- Otherstate 70% & tamil nadu 30% we have sales the finished goods to otherstate 90% & 10% tamil nadu. Other state sales means CST sales2% with C form. we need to reverse the Credit on purchase with in the state.
If Its Correct please sensd the Formula for the above.
Please help me in this regards,
R.Iyappan
Cell: 9894818701
 
Replies (1)

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


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