VAT Credit
This query is : Resolved
06 November 2010
Sir
I had sales both local(delhi) and Central which was subject to sales tax.
Now I would like to know whether I can take VAT credit from Central Sales "first" and then balance from local sales??????
I had sales both local(delhi) and Central which was subject to sales tax.
Now I would like to know whether I can take VAT credit from Central Sales "first" and then balance from local sales??????
06 November 2010
Central sales CST is your libility. it will be deposit in bank by you.
06 November 2010
Input tax credit can be adjusted against both local as well as central sales.
06 November 2010
Your question is little bit confusing also ,means you want to ask whether it can be adjusted against both liability or your question is for the order of adjusting ,if it it is for the order of adjusting if u want to pay local tax & want to adjust the liability of central sales tax against input tax credit available ,i don't think so there is any issue.
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