INPUT CREDIT
This query is : Resolved
15 July 2011
I WANT TO KNOW THAT IF GOODS IS PURCHASES OUT OF MAHARASHTRA BY PAYING CST AND I SOLD GOODS IN MAHARASHTRA BY COLLECTING VAT.CAN I TAKE A SETOFF OF VAT WITH CST IF I HAVE NO SALES OUTSIDE MAHARASHTRA
15 July 2011
CST is a terminal tax and not available for set off either in local sales or in central sales,
16 July 2011
VAT is the subject matter of State Government and the CST is the subject matter of Central Government. Against VAT no CST can be adjusted.
16 July 2011
yes, you cannot take credit of cst paid againest VAT. you need to add the CST with your purchases simply for accounting purpose as you will not get any input on it.
Regards
Abhisek Tosniwal
Regards
Abhisek Tosniwal
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