Simple query plz help
Hemali (cs professional student) (72 Points)
29 October 2013
VIKASH KUMAR JAIN
(Audit Executive)
(711 Points)
Replied 29 October 2013
VIKASH KUMAR JAIN
(Audit Executive)
(711 Points)
Replied 29 October 2013
Hemali
(cs professional student)
(72 Points)
Replied 30 October 2013
CA Pallav Singhania
(IT System Auditor)
(33262 Points)
Replied 30 October 2013
If CST is charged on purchase then it will be part oi the cost of the goods,
Only VAT credit on purchase is allowed to be set off...
On the other hand, VAT and CST charged on sale, becomes VAT and CST liability which can be set off against VAT credit {Vat paid at the time of purchase}
Ruchi Agrawal
(Accounts Executive)
(29 Points)
Replied 30 October 2013
output vat is applicable on sales and input vat on purchase......cst is central sales tax....thats' why it is added in output vat and not in input vat
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Course on Foreign Exchange Management Act (FEMA)(without recording)