input VAT credit on CST Payable

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himanshu

himanshu (Querist)
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10 March 2008 Please help me?
Can a manufacturing concern adjust its CST liablity with input VAT Credit-Rajesthan

Jitender Garg

Jitender Garg (Expert)
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10 March 2008 I think NO

CA Saurabh Maheshwari

CA Saurabh Maheshwari (Expert)
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10 March 2008 NO

Ashok Lalwani

Ashok Lalwani (Expert)
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10 March 2008 suppose a manufecturing concern received a purchase invoice of raw materials with VAT.
after production, finished product sold with CST.
so the concern must adjust input credit with CST.
bcoz the VAT payable calculated as below:
output VAT+CST-input VAT

Dayal

Dayal (Expert)
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11 March 2008 http://rajtax.gov.in/vatweb/download/cir_noti/CIR/Circular-F.120(Insp)(Inst)TaxCCT851849.pdf

Cut paste this link for the circular.

You can adjust excess vat against your CST liability

Should there be a further need for clarification do let me know

himanshu

himanshu (Querist)
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11 March 2008 thank u all.
but pls lemme know that since CST is a centre concern not of state ,than why we are adjusting it with the state level VAT

himanshu

himanshu (Querist)
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26 March 2008 pls tellme

Ashok Lalwani

Ashok Lalwani (Expert)
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27 March 2008 Mr. Himanshu, CST imposed by Central Govt. but collected & retained by State Govt. So input VAT credit adjusted with CST.