Excess amount of tax credit adjusted against cst
This query is : Resolved
Pandya Bhavin
(Querist)
26 March 2013
Q. Can I adjust my VAT Credit against Payable CST ?
Issue : I have Local Purchase of Rs. 284294.32 on which Input 4%+1% VAT = 10830.26+2707.56= 13537.82.
My interstate Sales = 1102448.83 Rs. on which Output CST@2% = 21616.65.
According to the provision in the (online) template, it is possible. What I have to do?
Issue : I have Local Purchase of Rs. 284294.32 on which Input 4%+1% VAT = 10830.26+2707.56= 13537.82.
My interstate Sales = 1102448.83 Rs. on which Output CST@2% = 21616.65.
According to the provision in the (online) template, it is possible. What I have to do?
MJ Krishnamurthy
(Expert)
27 March 2013
Yes, it is possible.Declare the local sales and the cst sales in your online return. Deduct the local input from the CST payable and pay the balance to the govt......mjk
Pandya Bhavin
(Querist)
30 March 2013
Thanks a lot Sir.
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