Credit /set off of cst on inter-state purchases
This query is : Resolved
Nisarg Modi
(Querist)
08 September 2013
Can I please know..why is credit/set off for CST paid on inter-state purchases not allowed while computing the net liability for VAT payable..??
CMA Ramesh Krishnan
(Expert)
08 September 2013
Central sale tax is the Central Govt act and VAT is the state tax, cannot set off with both
MJ Krishnamurthy
(Expert)
09 September 2013
A state govt is entitled to one time full vat on a series of sale transaction starting from manufacturer/importer/producer to the consumer.In an interstate purchase CST paid goes to another state from which it is brought. In the present state it is first sale. On the basis of the above priciple of VAT laws in this country no input credit of CST on purchases is available.....mjk
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