Cst reversal under tamilnadu vat
This query is : Resolved
Tara Khandelwal
(Querist)
19 May 2014
I have taken the formula for CST Reversal as:
ITC * CST Sales/Total Sales * 3/5 or 3/14.5
1) My query is whether Formula is correct?
2) Whether the Total sales includes consignment sales (shown as exempted sales in Form I) or we have to separately calculate CST reversal for consignment sales?
3) If calculated separately then what will be the formula
Please solve this query as soon as possible
ITC * CST Sales/Total Sales * 3/5 or 3/14.5
1) My query is whether Formula is correct?
2) Whether the Total sales includes consignment sales (shown as exempted sales in Form I) or we have to separately calculate CST reversal for consignment sales?
3) If calculated separately then what will be the formula
Please solve this query as soon as possible
Sandeep Dharar
(Expert)
19 May 2014
Visit the following link:-
https://www.tnvat.gov.in/
https://www.tnvat.gov.in/
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