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.

Ram Avtar Singh

Ram Avtar Singh (Expert)
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17 November 2010 you can adjust output vat+CST libility with Input Vat credit.

Tilak Agrawal

Tilak Agrawal (Expert)
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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.