Cst
This query is : Resolved
05 August 2013
If the seller of gujarat has deducted 2% cst on sales of loose and solid briquettes to the buyer of mumbai and has done of payment thereon.Can the buyer of mumbai can claim credit of 2% on purchses on solid briquettes?????????????????
Suppose the purchase amt is 83856 and vat amt is 1677,so what the entry will be?
One of my client has passed the entry as ,
Bio coal A/c .....dr 85533
To AXY A/c 85333
Is the above entry correct or the CST credit should be taken by the buyer?
PLZ REPLY
Suppose the purchase amt is 83856 and vat amt is 1677,so what the entry will be?
One of my client has passed the entry as ,
Bio coal A/c .....dr 85533
To AXY A/c 85333
Is the above entry correct or the CST credit should be taken by the buyer?
PLZ REPLY
07 August 2013
No CST tax credit can not be claimed.
he has correctly booked the transaction.
he has correctly booked the transaction.
08 August 2013
Can you specify the reason for that?why tax credit should not taken?
08 August 2013
Because there is no provision in CST ACT about adjustment of Input CST with Output CST.
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08 August 2013
Logic would not prevails in LAW. Whatever written in LAW would have to be follow, logic should be kept aside while reading the LAW. However, where there are different interpretation, you may use it in your favor.
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