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Credit of VST

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(Querist)
01 November 2009 Can anybody give me an idea as to whether Vat credit can also be utilized for payment of CST ? Pls mention some relevant section too, if available.
Thanks
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Satpal Singh

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Satpal Singh (Expert)
01 November 2009 Yes Vat credit can be utilied for the payment of C.S.T. in Punjab Vat. If you belong other state then see the relevant State vat Act.
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CA SANJAY MUKHERJEE

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CA SANJAY MUKHERJEE (Expert)
02 November 2009 Agree with Expert. Yes Vat Credit is adjustable against payment of CST.
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