Regading input tax credit
This query is : Resolved
madinashabana11
(Querist)
17 February 2012
Sir,My Friend have a sole trade business in State Andhra Pradesh ( A.P ) and he purchased some furniture from Mumbai for selling purpose and he paid CST there. Now my doubt is does he get any Input credit while selling that goods at A.P ? Plz help me about the Tax Treatement in this situation.....Thanks alot sir....!!
Sir,My Friend have a sole trade business in State Andhra Pradesh ( A.P ) and he purchased some furniture from Mumbai for selling purpose and he paid CST there. Now my doubt is does he get any Input credit while selling that goods at A.P ? Plz help me about the Tax Treatement in this situation.....Thanks alot sir....!!
Maninder Jain
(Expert)
18 February 2012
CST paid is not allowed as input tax credit in any state VAT laws. CST become cost of item purchased.
When your friend sell the goods in A.P., he has to charge VAT at the prevaling rate in A.P. Vat law.
When your friend sell the goods in A.P., he has to charge VAT at the prevaling rate in A.P. Vat law.
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