CST LIABILITY
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 November 2010
IN A PRIVATE LTD COMPANY
LOCAL PURCHASE @5% VAT INPUT
SALES
A} LOCAL SALE @ 5% OUTPUT
B) OTHER STATE SALE @ 2% CST SALE
IF VAT INPUT 5% IS MORE THAN 5% VAT OUT PUT SALE + 2% CST SALE
IS THERE LIABILTY OF CST 2% PAYBLE OR ADUSTABLE FROM VAT INPUT CREDIT.
KINDLY CLEAR IT.
LOCAL PURCHASE @5% VAT INPUT
SALES
A} LOCAL SALE @ 5% OUTPUT
B) OTHER STATE SALE @ 2% CST SALE
IF VAT INPUT 5% IS MORE THAN 5% VAT OUT PUT SALE + 2% CST SALE
IS THERE LIABILTY OF CST 2% PAYBLE OR ADUSTABLE FROM VAT INPUT CREDIT.
KINDLY CLEAR IT.
17 November 2010
you can adjust output vat+CST libility with Input Vat credit.
17 November 2010
Since Input VAT is more than ( Output Vat + Output CST } Nothing is Payable.
Kindly Note that one cannot take the input credit of CST but can use Input VAT for Payment of Output CST.
Kindly Note that one cannot take the input credit of CST but can use Input VAT for Payment of Output CST.
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