Cst purchase & local sales in vat

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Ashish kesarwani (Querist)
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24 April 2012 Dear Sir,

we have purchase from gujrat (CST@2%) and sales local 12.5%.to kya hume 2% credit milta hai ki nhi.kyonki vat to hum collect karke paid kar dete hai.cst to paid hi kar dete hai pruchase ke time per.how to adjust cst & vat.?

suppose-purchase-100000
cst@2%---2000
bank-----------------102000.

same product sales to local market.
cash .......112500
sales..........100000
vat@12.5%.......12500

paid vat to govt-12500 and cst paid to supplier.how to adjust....?vat and cst

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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24 April 2012 input cst (interstate purchase) cannot set off or adjust against VAT

i.e cst purchase tax can not consider as ITC while calculating VAT Payable

Aaapko Rs. 12500/- pay karna hoga without taking ITC of Rs. 2000/-

Mihir Doshi

Mihir Doshi (Expert)
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24 April 2012 Agree with Expert

Ashish kesarwani

Ashish kesarwani (Querist)
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24 April 2012 Dear Sir,

that is means we have suffer loss of CST purchase and same thing we have local purchase 12.5% and sales CST to banglore.

same as condition.

please give the details of CST , sales & purchase process.

Regards,

ashish kesarwani

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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24 April 2012 As per your above data,
if you are selling in local state then you have to pay Rs. 12500/- as above said

but if you sell that product to other state with C form @ 2% Rs. 2000 CST or without C Form @ 5% Rs. 5000/- then pay whichever you have collect by CST Sales

if you have purchased that product with in state then first you have to pay Rs 12500/- as local vat on Rs. 100000/- i.e (100000+12500=112500) and if you sell that items in Rs. 110000/- with in state then treat will be 13750/- of VAT on Rs. 110000/- i.e ( 110000+13750=123750)

now calculate vat payable

input vat Rs.12500
Less Output VAT Rs.13750
VAT Payable Rs. 1220

how much you have paid is Rs. 12500+1220=13750

and by CST purchase as above ex. Rs. 12500+2000=14500/-

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