calculation of VAT
This query is : Resolved
bharati marathe
(Querist)
14 April 2011
please help me on calculation of vat d cst. whether input credit of vat can utilize for cst liability?
15 April 2011
Input credit of VAT should be first utilised for meeting VAT liability if any, then remaining portion can be utilised for meeting CST liability.
Murtaza I Bhagat
(Expert)
15 April 2011
abosolutely,
input vat first utilized with vat and if excess then it goes to CST liability and shortfall of vatinput create cst payable which will be payable.
input vat first utilized with vat and if excess then it goes to CST liability and shortfall of vatinput create cst payable which will be payable.
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