VAT
This query is : Resolved
28 August 2009
co. is construction co. it purchase material within and outside the state.in this way it pays vat and cst both on purchase. It charge vat, labour cess and service tax from clients.
How the vat and cst liability will be calculated? and how input credits can be availed?
How the vat and cst liability will be calculated? and how input credits can be availed?
28 August 2009
Input tax credit is not available on CST purchases.
hence, the tax libility will be
for VAT: VAT collected - Input tax credit(VAT paid on purchases)
For CST :CST collected on CST sales.
hence, the tax libility will be
for VAT: VAT collected - Input tax credit(VAT paid on purchases)
For CST :CST collected on CST sales.
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
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Scrutiny and reopening of past returns
- PPF interest-As Exempt Income disclosure
- Section 194JA & JB Income which ITR Form to use
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
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
