Vat & cst related transaction in gujarat

Deepak (Partner) (29 Points)

10 June 2012  
Hello everyone, I have recently started a metal scrap trading business and one question is troubling me. If any of the VAT experts can please solve my query then i will be really thankfull. I got too many different answers, so please help. My query is as below: If I have purchased material from Gujarat by paying 5% VAT and then sell it in another state against C form with 2% CST. 1) can I adjust CST against VAT or I will have to pay cst collected from my buyer? 2) How much VAT credit will I get in above case? 3) what will be my net VAT loss (if there is any reduction) Please answer in context of gujarat VAT as my CA told me that it can be adjusted but it is allowed in gujarat only. Is it true or not Thanks in advance Your response will be highly appreciated. Thanks & Regards, Deepak Devaria