Vat

This query is : Resolved

Amit (Querist)
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14 February 2012 Sir my Total purchase is local purchase on which 5%vat is charged and my sale is OMS on which i 2%cst is charged have to adjust it.

CA CS Pawan Jajoo

CA CS Pawan Jajoo (Expert)
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15 February 2012 yes , you can take setoff of local purchases as against CST Payable . I am talking about MVAT. Excess Input VAT is adjusted against CST

CA CS Pawan Jajoo

CA CS Pawan Jajoo (Expert)
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15 February 2012 yes , you can take setoff of local purchases as against CST Payable . I am talking about MVAT. Excess Input VAT is adjusted against CST