ADJUSTMENT OF CST LIABILITY AGAINST VAT CREDIT
This query is : Resolved
P.S.VISHWANATHAN
(Querist)
15 January 2009
we are a dealer in Delhi. We have accumulated input vat credit and the same is adjusted against cst liability as more than 99% of our sales are inter-state. My query is whether the input tax credit can be utilized to discharge the liability arising out of non submission of Form c by our customers? The liability includes additional CST,INTEREST AND PENALTY THEREOF
CA.ViVeK M ACA
(Expert)
15 January 2009
Input tax credit on the vat cannot be utilized agaist the Non submissiioon of Form C and additional CST and interest.
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