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
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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