Accountant
30 Points
Joined May 2013
hi,
we have purchased trading ( resale ) materials in tamilnadu and we have paid input vat @ 14.5. and there is no vat sales , but we have completely made cst sales @ 2% against C form. can we adjust the input vat credit in cst output tax. or can we seperately claim for the refund of input vat credit.
e.g. input vat credit @ 14.5 - rs. 15000 and cst @ 2% - rs. 107000.
can we adjust the input vat credit and we pay cst amount rs. 107000 - rs. 15000 = rs. 92000.
can any body help on this subject.