cst vs vat
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 February 2011
Dear Sir,
i m very confused to avail the adjustment cst with vat
when i asked this question at this site then expert told me that i cann't take this benefit means i can't adjust cst with vat
but in which firm i m working they are doing it and availing this benefit
and when i asked it from my sales tax advocate then he told me that it's right
and we can take this benefit when our vat is excess than cst
i m very confused to avail the adjustment cst with vat
when i asked this question at this site then expert told me that i cann't take this benefit means i can't adjust cst with vat
but in which firm i m working they are doing it and availing this benefit
and when i asked it from my sales tax advocate then he told me that it's right
and we can take this benefit when our vat is excess than cst
S.A.BADAMIKAR
(Expert)
26 February 2011
1]You can adjust your CST (output tax / tax on your sales) liability against VAT (Input tax/ Tax on your purchases) setoff available.
2]But when you make purchases from outside state, the supplier charges the CST, the CST charged by the Supplier is not eligible for Set-off. Therefore the VAT (output tax/ tax on your sales) liability can not be adjusted against the CST (input tax) tax paid on purchases.
2]But when you make purchases from outside state, the supplier charges the CST, the CST charged by the Supplier is not eligible for Set-off. Therefore the VAT (output tax/ tax on your sales) liability can not be adjusted against the CST (input tax) tax paid on purchases.
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