Input vat against cst sale
This query is : Resolved
02 January 2015
A company has vat Purchases (local purchase) and CST sales against “C Form” (don’t have any local sale). Can we avail input vat credit; I mean to say "can we avail input against CST payable". please clear me with an example
02 January 2015
CST payable can be setoff against VAT INPUT credit.
Eg. CST payable of Rs. 100000 can be claimed against vat input credit of Rs. 100000, say.
Thanks!
Eg. CST payable of Rs. 100000 can be claimed against vat input credit of Rs. 100000, say.
Thanks!
Amit Kumar
(Expert)
03 January 2015
First:- CST payable can be set be setoff against VAT Input Tax Credit
Second:- In our case there is no local sale but local purchases then Interstate sale. In above case depends on states, reversal of input tax credit is also required as per rules and provision.
Second:- In our case there is no local sale but local purchases then Interstate sale. In above case depends on states, reversal of input tax credit is also required as per rules and provision.
Vishnu Saboo
(Expert)
21 February 2015
yes tax credit can be availed, but as told by Mr amit, pls check whether any portion to be reversed or not against CST sale?
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