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Discussion > VAT >

can credit of CST b taken from VAT input?

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CA


[ Scorecard : 50]
Posted On 06 August 2008 at 11:12 Report Abuse

whether  from the VAT input credit available (under harayana VAT), Credit for duty payable under CST can be taken?

Plz rely urgently..

Thanks


Online classes for CA CS CMA



som kansal
chartered accountant


[ Scorecard : 307]
Posted On 06 August 2008 at 11:24

dear indu

there is no proceedure in the whole cst act for credit of cst paid

as there in vat act.

u cant take credit of cst paid against vat



Total thanks : 1 times




Sandeep
CA Final


[ Scorecard : 52]
Posted On 06 August 2008 at 11:35

Sorry sir, As I have knowledge of VAT, credit of VAT paid can be adjusted with CST but cedit of CST paid could not be adjusted with VAT under the HVAT Act, 2003.

 




CA Amit Kumar Khaitan
Research Analyst


[ Scorecard : 360]
Posted On 12 August 2008 at 16:30

no cst cant be set off at all....

cst act is one for the whole country.




indu gurjer
CA


[ Scorecard : 50]
Posted On 12 August 2008 at 21:46

dear all!

these views r all different,now i am not sure which one to go with. can plz anybody clarify this more and quote some section or circular etc..




Vineet Bansal
C.A. in Service


[ Scorecard : 36]
Posted On 13 August 2008 at 15:15

Originally posted by :indu gurjer
"

Dear Indu,

1.Under HVAT, 2003 we can take the credit of VAT paid on inputs/capital goods purchased. Now, this available input credit can be utilised to pay our VAT liability on the sales made within the Haryana(i.e. Local Sales). If our VAT liability  on the sales made in the haryan(Local Sale) is less then the Input Credit available, then the balance Input Credit (balance after utilising for payment of VAT liability on local sale) can be utilised to pay our CST Liability. 

2. we can not take the credit of CST paid on purchase of Inputs/Capital Goods.

Example:

VAT paid on Purchases = Rs. 100

CST Paid on Purchases = 50

Therefore, total input credit available = Rs. 100 only

Now, suppose VAt liability on sales made in Haryana = Rs. 50

CST liability on interstate sale = 500

Now out of total credit of Rs. 100 we can use 50 Rs. for payment of our VAT liability. Balance Rs. 50 can be utilise for the payment of our CST liability. Thus Rs. 450(500-50) for CST liability we will have to pay in cash.

Crux:

VAT paid on Purchases - We can take the credit and can utilise for payment of both VAT and CST

CST paid on Purchases  - We can not take the credit.

 

Vineet Bansal

"


 



Total thanks : 1 times



indu gurjer
CA


[ Scorecard : 50]
Posted On 13 August 2008 at 22:59

Mr. Vineet,

Thank u so much for the reply...

i have understood the situation now..

cud u share ur e-mail id plz..

regds-indu




MOHIT VATS
Project Controlling


[ Scorecard : 21]
Posted On 18 August 2008 at 16:21

Dear Mr. Vineet, I have go through with  your example, could you plz explain  the follwing situation:-

1. In case the enterprisesdidi not have any local sale & all the sale are on Central basis.. Now can we set off the same against VAT.

2. In case of any interest due to late payment, Can we set off the same through Credit available?

3. In your example you first set off the liability of VAT & not CST ? Is there any reason behind the same...

 

Thanks in Advance

 

Regards

MOHIT VATS

Originally posted by :Guest
"


Originally posted by :indu gurjer


"

Dear Indu,
1.Under HVAT, 2003 we can take the credit of VAT paid on inputs/capital goods purchased. Now, this available input credit can be utilised to pay our VAT liability on the sales made within the Haryana(i.e. Local Sales). If our VAT liability  on the sales made in the haryan(Local Sale) is less then the Input Credit available, then the balance Input Credit (balance after utilising for payment of VAT liability on local sale) can be utilised to pay our CST Liability. 
2. we can not take the credit of CST paid on purchase of Inputs/Capital Goods.
Example:
VAT paid on Purchases = Rs. 100
CST Paid on Purchases = 50
Therefore, total input credit available = Rs. 100 only
Now, suppose VAt liability on sales made in Haryana = Rs. 50
CST liability on interstate sale = 500
Now out of total credit of Rs. 100 we can use 50 Rs. for payment of our VAT liability. Balance Rs. 50 can be utilise for the payment of our CST liability. Thus Rs. 450(500-50) for CST liability we will have to pay in cash.
Crux:
VAT paid on Purchases - We can take the credit and can utilise for payment of both VAT and CST
CST paid on Purchases  - We can not take the credit.
 
Vineet Bansal

"




 
"


 




(Guest)
Posted On 30 August 2008 at 20:59

can credit of CST b taken from U.P. VAT input



CA Ravish Trivedi
The Possibilities are Infinite...


[ Scorecard : 762]
Posted On 30 August 2008 at 23:35

Dear JP,

U cannot take credit of CST under UP vat input.The procedure for all states are same there is no link between CST and VAT.



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