out put vat but input cst(very urjent)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 June 2010
sir in my friends client company,
they are purchased from other state and paying cenvat and the company sales those goods to local customers and they are collecting vat and total amt paid to local government.
ex: purchase cost 25000
cen vat 5000
30000(25000+5000) paid to the company of other state.and they are collect 34350(30000*14.5%+30000) from customer and total 4350 paid to local government .wether this treatment is correct or not.
they are purchased from other state and paying cenvat and the company sales those goods to local customers and they are collecting vat and total amt paid to local government.
ex: purchase cost 25000
cen vat 5000
30000(25000+5000) paid to the company of other state.and they are collect 34350(30000*14.5%+30000) from customer and total 4350 paid to local government .wether this treatment is correct or not.
CMA.Palani Arumugam
(Expert)
02 June 2010
Please clarify whether you have paid excise duty or CST for purchase from outside state.
1) If it is CST. You cannot claim the input CST against the VAT liability. (CST liability can be set off against the excess set off of VAT).
2) If it is Central Excise duty, You cannot claim the CENVAT Credit against VAT Liability.
1) If it is CST. You cannot claim the input CST against the VAT liability. (CST liability can be set off against the excess set off of VAT).
2) If it is Central Excise duty, You cannot claim the CENVAT Credit against VAT Liability.
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