CST credit
This query is : Resolved
14 February 2011
The Question regarding CST credit
e.g. Vat @15% On Purchase 15000 + CST @2% Paid on Purchase 3000 = 18000
Vat @15% on Sales 20000
--------------------------
Vat payable is 2000
Is this calculation is true?
e.g. Vat @15% On Purchase 15000 + CST @2% Paid on Purchase 3000 = 18000
Vat @15% on Sales 20000
--------------------------
Vat payable is 2000
Is this calculation is true?
14 February 2011
As per provisions of DVAT Vat payable would be Rs.5,000/- and not Rs.2,000/- since no credit is available for CST paid on interstate purchases
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