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Taxability under MVAT of goods purchased from other state un

This query is : Resolved 
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(Querist)
26 February 2010 How is the Tax calculated on Goods purchased under MVAT by issuing C Form

For Example -
Purchase Price of article is Rs. 102
(Inclusive of Rs 2 CST)
Selling Price of the article is Rs. 104
(Inclusive of MVAT)

Whether the dealer is liable for MVAT on RS. 104 or on the difference i.e on profit of Rs. 2 as the dealer has purchased the goods from other state by issuing C Form
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CA Deepak P. Agrawal

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CA Deepak P. Agrawal (Expert)
28 February 2010 You cannot take set off of CST Paid
In your case you have to pay VAT of Rs.4 (assuming your goods are taxed at 4%in M.S)
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