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Discussion > VAT >

C.S.T/VAT set off

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C.A Job


[ Scorecard : 1528]
Posted On 19 September 2009 at 10:35 Report Abuse

Is C.S.T paid on purchase is available to be set off against VAT PAYABLE.

Or else VAT paid on purchase is available to be set off against C.S.T PAYABLE?


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Ram Avtar Singh
Nagari Sultanpur U.P.Delhi


[ Scorecard : 13328]
Posted On 19 September 2009 at 10:50

only Vat paid on purchase is available to be set off against C.S.T PAYABLE





CA LOVELY ARORA
C.A. B.Com (H) Graduate


[ Scorecard : 2085]
Posted On 19 September 2009 at 11:59

the amount of CENTRAL SALES TAX payable by you, can be set off against VALUE ADDED TAX paid by you on Purchases made.




MAHINDER
pract.


[ Scorecard : 61]
Posted On 21 September 2009 at 10:02

no it not posiable to take that kind of adjustment. the repies given by other frnfd are ok.




samip karpe
accounts assistance


[ Scorecard : 152]
Posted On 21 September 2009 at 11:35

no this is not possible, C.S.T paid on purchase is not available to be set off against VAT PAYABLE / C.S.T. Payable.




Shakir
Student of CMA


[ Scorecard : 90]
Posted On 01 June 2010 at 15:47

I'm agreeing with Samip Karpe




Jagdish Bhalia
Practicing CA


[ Scorecard : 443]
Posted On 01 June 2010 at 18:53

CST paid on purchases could not be set off against vata payable.

But we can set off VAT paid on purchases agianst CST payables.




PRADEEP & SUDHIR JI
CA FINAL+LLB


[ Scorecard : 2289]
Posted On 01 June 2010 at 21:44

no, man




chandra sekaran
chartered accountant


[ Scorecard : 44]
Posted On 02 June 2010 at 11:11

CST paid cannot be set off against VAT payable. Whereas VAT paid (ITC) can be set off against CST Payable. The logic is CST is collected by the state where the movement of goods commences.

For Example if you are a dealer in Tamil Nadu bought a goods from Delhi. Then CST shall be collected by the Delhi Govt. So we cant claim the same against the VAT payable to Tamilnadu Government.

Likewise if you made sale to a dealer in Delhi, then CST shall be payable to the Tamil Nadu Government. Hence you can adjust the VAT Input Tax Credit available against the CST payable to Tamil Nadu Government.




sarvindkumar jaiswar
Finance & Account Executive


[ Scorecard : 30]
Posted On 22 June 2010 at 18:11

 

How we are set of CST against Vat or any other sources

 

Account Assistant



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