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
- Opting our of sec 44AD
- Regarding TDS Applicability For Director Remuneration
- Regarding appeal to GSTAT
- Value of property in capital gain
- Form 121 & TDS deduction
- Multiple trade mark
- LC charges in relation to Asset purchased should be Capitalised ?
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Copyright software
- Transporter Declaration form
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
