Central Sales Tax

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F H G (Querist)
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22 February 2010
Q. How does Central Sales Tax behave? Should it be included in material cost? If not then can we show it as a direct expenses?

kindly give the asnwers of above questions by mentioning accounting entries.

Thanks in advance
FAZLE
email:- fazle_sap_fi@yahoo.in

CA Vijay Kumar Gupta

CA Vijay Kumar Gupta (Expert)
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24 February 2010 it is a material cost. the accounting entry is

purchase a/c Dr.

To supplier a/c Cr.

with the cost of material including cst.

F H G

F H G (Querist)
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25 February 2010 Thank you Mr Vijay
Now my another doubt is that-
If we buy raw material within the state(VAT), manufacture the finished goods and sale the same out side the state(CST), then can we claim the VAT (which we had paid during the purchase of raw material)?

If yes, then can we set off the CST (which we had received while selling of finished goods) against the above VAT?

Thanks & Regards
FAZLE

Vishnu Saboo

Vishnu Saboo (Expert)
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25 February 2010 yes ofcourse.

F H G

F H G (Querist)
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25 February 2010 Thanks Mr Arun

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