Raw materials purchased from other state
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 November 2012
Dear Expert,
My friend is the manufacturer of Rubber products, his factory is in Mumbai(MVAT) , has has purchased raw materials from Gujarat..
In the purchase invoice the said party charge
2% CST & 1% VAT..
Pls tell me how he can take input of VAT paid on purchase...?
Is there any benefit available for CST paid on purchase??
Pls answer shorty..
Its urgent
My friend is the manufacturer of Rubber products, his factory is in Mumbai(MVAT) , has has purchased raw materials from Gujarat..
In the purchase invoice the said party charge
2% CST & 1% VAT..
Pls tell me how he can take input of VAT paid on purchase...?
Is there any benefit available for CST paid on purchase??
Pls answer shorty..
Its urgent
24 November 2012
Input credit of only VAT can be availed. Input credit of CST is NOT available.
24 November 2012
Mr Author,
A seller cannot charge/collect both VAT and CST on the same transaction.On a local sale only VAT and on a interstate sale only CST is to be collected.You may ask the seller to refund the VAT collected on this sale. However as both these taxes are collected in Gujarat you cannot claim it as input in Mumbai.....MJK
A seller cannot charge/collect both VAT and CST on the same transaction.On a local sale only VAT and on a interstate sale only CST is to be collected.You may ask the seller to refund the VAT collected on this sale. However as both these taxes are collected in Gujarat you cannot claim it as input in Mumbai.....MJK
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
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Building and other construction workers welfare cess act 1996
- Gift of mutual fund units to daughter
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Annual return of gst limit
- Reporting of STCG on Property in ITR
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
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
