input VAT credit on CST Payable
This query is : Resolved
10 March 2008
Please help me?
Can a manufacturing concern adjust its CST liablity with input VAT Credit-Rajesthan
Can a manufacturing concern adjust its CST liablity with input VAT Credit-Rajesthan
Jitender Garg
(Expert)
10 March 2008
I think NO
10 March 2008
NO
Ashok Lalwani
(Expert)
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
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
11 March 2008
https://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
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
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
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
Ashok Lalwani
(Expert)
27 March 2008
Mr. Himanshu, CST imposed by Central Govt. but collected & retained by State Govt. So input VAT credit adjusted with CST.
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