cst payable is 6lakhs,Input Tax is 10lakhs and output tax is 5lakhs,ok, first of all you should pay out the cst liability 6 lakhs it will not be adjustable against your input and surplus of input i.e. 5laks, either you carried forward or claim for refund it in the return.
28 December 2012
Mr Neeladri R Chowdhury, I am sorry, I would like differ from Mr UK Pandey. Here you can adjust the input against CST payable also. Your CST payable Rs6 lakhs+Output tax Rs5 lakhs = Rs 11 lakhs -inputRs10 lakhs =Net tax payable Rs1 lakhs.....MJK
CAclubindia
