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Vat adjusted

jay vaghani (PROPRIETOR) (28 Points)

17 September 2015

HIII

CAN I ADJUSTED CST 2% AGAINST VAT 5% ?. PLS HELP

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13 Replies

CMA Poornima Madhava (CMA) (13112 Points)
Replied 17 September 2015

You question is incomplete. Do you mean: CST paid on purchase to adjust against VAT payable on sales or vice versa?

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jay vaghani (PROPRIETOR) (28 Points)
Replied 17 September 2015

yes Mem exactly as per your statement.

Dishank (Student CA Final ) (21 Points)
Replied 17 September 2015

CST on purchase, VAT on sales- Input credit for CST paid cannot be availed against output VAT payable irrespective of rates.

CA-AK (CA) (600 Points)
Replied 17 September 2015

Not it can not be adjusted. However vice versa is possible if elegible to take VAT credit as per state law.

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jay vaghani (PROPRIETOR) (28 Points)
Replied 17 September 2015

ANAMIKA MEM.. IF 2% CST I PAID SO I CANT ADJUSTED 2% IN VAT TAX AMT. ??

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jaya krishna (Chartered Accountant) (262 Points)
Replied 17 September 2015

Cst input can't adjust with Vat out irrespective of rate of tax but you can eligible adjust Vat input against cst out put

Zarra.Belal.Nomani (CS Final B.com CA Final.) (167 Points)
Replied 17 September 2015

As rightly pointed out by fellow member that CST input ie CST paid on inter state purchase cannot be setoff with vat payable on sale ! However CST paid on sale to other state can be setoff with output vat liability . which state do you reside ?

dwarkadas sampat (ACCOUNTANT) (22 Points)
Replied 17 September 2015

We have purchase from chenai 2% cst can we take credit adjust same if goods sold out side state of Maharashtra.

Ronald (Accounts) (22 Points)
Replied 18 September 2015

We can't take input on CST Purchases. We can set off CSTtax on Sales against VAT input credit.

CA-AK (CA) (600 Points)
Replied 18 September 2015

CST and VAT are revenue for state govt. CST on input is paid to state govt. from which purchase is made, whereas VAT on output is paid to state govt. in which sale is made.Revenue for different state govt. It is the basic reason due to which credit is not adjustable.CST is not VATable.