A trading company buys good within the state but sells all its good to the neighbouring state. It pays VAT on all its purchases and collects CST on sales. How can the company claim the input vat credit as it doesn't sell anything within the state. Can it claim a refund or can input credit be adjusted against CST? Pl clarify.
3 Replies
abhishek
(article)
(29 Points)
Replied 08 December 2013
as per white paper you will claim refund and also adjusted against cst
V. Devananda Narasimham
(Advocate)
(248 Points)
Replied 13 December 2013
Sir,
Each State has eneacted its own VAT laws based on the value added system of taxation and enforcing it within the boundaries of such State. According to Kerala VAT Act, input tax paid by a dealer on his local purchases can be adjusted towards CST due on the Interstate sales effected during the relevant return period. Normally you can also adjust the IPT against CST due.
Thank you
Recent Topics
- Share office desk in bkc, near family court
- 80D claim for payment paid by parent
- TDS on purchase of Flat under subvention scheme be
- Nznxnc call me at the end of the day of the
- Nsje snswk fjw ed le ene djff ne enje ejdd rejje
- Hxjcif the day I have been in touch with me and
- Iska djd djrbdsjebshe sir ur rei ejr reinr the jr
- GST registration for medical shop in Karnataka
- Hsshs me know if you are free number of the
- Chu Kang and the situation of the situation and I
Related Threads
CAclubindia
