Pls tell ma as per WB VAT Rules:-
How can Vat paid on purchase of Capital Goods be set off against Output Vat & Cenvat? Can it be set off against CST also?
CA AYUSH AGRAWAL
(Kolkata-Pune-Mumbai)
(26986 Points)
Replied 11 January 2010
Originally posted by : Komal | ||
Pls tell ma as per WB VAT Rules:- How can Vat paid on purchase of Capital Goods be set off against Output Vat & Cenvat? Can it be set off against CST also? |
Yes....VAT on Capital Goods Will B Adjust Against Output VAT,,,
But Not Against CENVAT......... ( as CENVAT Collected by Central Goverment)
Ya.......VAT on Capital Goods Also Adjust Against Output CST..................As Same Goverment is Taking the Tax i.e West Bengal in UR case.......
In Simple Terms..............
IN WB VAT.................VAT on Capital Goods Can Be Adjust Against All Output Taxes i.e VAT/CST That are Colleting By Westbengal Goverment.....................
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