Cst credit availability
This query is : Resolved
Gopi Krishnan C Nair
(Querist)
29 July 2013
can cst paid on interstate purchase set off against cst payable on such sales or any other central govt tax?
29 July 2013
no, set off is not allowed.
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RENGARAJ R.K
(Expert)
29 July 2013
Set off you mean INPUT TAX CREDIT?
FOR INTER STATE PURCHASE (CST PAID MATERILS)INPUT CANNOT BE CLAIMED, SINCE SUCH PURCHAES ARE INELIGIBLE FOR INPUT TAX CREDIT. LOCAL PURCHASE INPUT TAX CREDIT CAN BE ADJUSTED AGAINST YOUR CST SALES.
FOR INTER STATE PURCHASE (CST PAID MATERILS)INPUT CANNOT BE CLAIMED, SINCE SUCH PURCHAES ARE INELIGIBLE FOR INPUT TAX CREDIT. LOCAL PURCHASE INPUT TAX CREDIT CAN BE ADJUSTED AGAINST YOUR CST SALES.
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