INPUT CREDIT
This query is : Resolved
ravin kumarpal mehta
(Querist)
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
U S Sharma
(Expert)
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.
ABHISEK TOSNIWAL
(Expert)
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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Issuing of delivery challan by seller of goods
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Nursery business
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
