Mvat adjustment against cst
This query is : Resolved
19 February 2012
Dealer A in Maharashtra effected a sale to registered dealer B in MP. "A" has collected CST say Rs20000. A has paid Mvat on purchases for 8000. Can A adjust the Mvat credit of 8000 against the CST liability and deposit the diff. of 12000 into govt a/c?
20 February 2012
ITC is first to be adjusted against VAT liability and any excess on hand can be then adjusted against CST.
Direct adjustment of CST before adjusting VAT liability may result in denial of adjustment, thereby drawing interest on amount short paid against CST.
If text of the act is required do let me know.
Direct adjustment of CST before adjusting VAT liability may result in denial of adjustment, thereby drawing interest on amount short paid against CST.
If text of the act is required do let me know.
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
- TDS on Consultancy- Non DTAA
- Depreciation of fixed assets- coop housing society in mumbai
- Reopen of assessment proceeding
- EPF FULL & FINAL RULES IN 2026
- Rental income gst and it purpose
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- FTS Taxable under 115A
- Experts need help
- Management System (IMS)
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Gift Received from nonblood relative
- 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
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
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
