Cst and vat

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This query is : Resolved

riddhi (Querist)

27 March 2015 we have purchased an equipment from another state dealer in our company and we want to re sell them so how will cst and vat be calculated? if it is out of maharashtra? do we need to issue c forms?

Also , the equipments are by mistake billed in other company so can that company claim depreciation on it? how to account it? the bill cannot be changed but now on it will be billed in the other company only

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)

27 March 2015 if name cant b changed, and that company is showing it in their books... then depreciation can b claimed by them...

but while audit.. how wil u justify it when assets wil not ther b with them physically

while purchasing from other state, yes if cst is charged on bill with C form, then u have to issue C Form for that purchase

riddhi

riddhi (Querist)

30 March 2015 thanks. I will put it in expense head because the asset is not lying with that company, it is sold to the client

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