Input Credi Tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 July 2011
Dear Sir/Madam,
Iam being a trader, i buy a product within state by paying 4% VAT (VAT Purchase)and then sell the product outside the state(CST sale)by collecting 2% CST against Form C.
Now my query is that, can i avail the input credit on the 2% collected aginst 4% VAT paid
Iam being a trader, i buy a product within state by paying 4% VAT (VAT Purchase)and then sell the product outside the state(CST sale)by collecting 2% CST against Form C.
Now my query is that, can i avail the input credit on the 2% collected aginst 4% VAT paid
14 July 2011
pls confirm your question,,
inter state purchases liable to CST are not eligible for Input credit , but CST payable can be set off against any purchase liable to VAT/CST
inter state purchases liable to CST are not eligible for Input credit , but CST payable can be set off against any purchase liable to VAT/CST
U S Sharma
(Expert)
14 July 2011
CST charged against your sales and your liability to pay this CST can be set off against your vat input credit on purchase in state
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