Dear Sir,

I have recently purchased some material from Gujarat. The purchase was made against FORM C and I have paid 2% CST on the total assessable value of the Material.

Now, after almost 3 months of doing continious business with the firm, I found out that the firm was using a fake CST number and was giving Fake Bills to all of its customers.

Kindly suggest if there will be any tax liablity on me now? I have already paid the CST to the supplier but then he was not submiting the same to the govt/taxation authorities.

Kindly help here

IS A BUSINESS CAN ALSO CHARGE VAT ON SALE OF ASSETS ALSO ALONGWITH SALE OF GOODS. IF YES WHAT WILL BE THE RATE OF VAT. IS IT SAME RATE AS CHARGED BY A PERSON WHO IS DEALING IN SUCH GOODS WHICH ARE SOLD AS ASSETS.HOW THIS SALE OF ASSET ON WHICH VAT IS RECEIVED IS DISCLOSED IN VAT RETURN .IN WHICH LS IT WILL BE TAKEN.

WHILE MAKING PAYMENT OF VAT IS VAT IS TO BE PAID ON PURCHASE PRICE PLUS EXCISE DUTY AMOUNT.IF SO THEN THERE IS DOUBLE TAXATION (VAT ON EXCISE DUTY).WHAT WILL BE THE ACCOUNTING ENTRIES IN BOOKS OF BUYER & SELLER FOR ENTIRE TRANSACTION INCLUDING PURCHASE/SALE PRICE,VAT & EXCISE DUTY.

PLEASE HELP IN THIS REGARD. I HAVE A LOT OF CONFUSION REGARDING THIS MATTER.

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