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.
MJ Krishnamurthy
(Expert)
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
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