Is CST Credit deducted in total vAT payble?
This query is : Resolved
19 February 2011
My question related in Gujarat VAT
Output CST = 24082
Less: Input CST = 18747
Payable = 5335
Output VAT = 279054
Less: Input VAT = 171836
Payable = 107218
NET PAYABLE = 101883(107218 VAT - 5335 CST)
My above mention calculation is true? if false than give me the right calculation.
Output CST = 24082
Less: Input CST = 18747
Payable = 5335
Output VAT = 279054
Less: Input VAT = 171836
Payable = 107218
NET PAYABLE = 101883(107218 VAT - 5335 CST)
My above mention calculation is true? if false than give me the right calculation.
19 February 2011
You can not take credit on Input CST, so, in your case the tax liability will be CST 24,082/- and VAT 1,07,218/-
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