Vat/cst on capital goods and inputs
This query is : Resolved
Dasharath Appa Pujari
(Querist)
21 October 2012
Dear All,
Can entire portion of vat/cst paid on purchase of capital goods be used to discharge the Output VAT/CST liability?
Can CST liability (2% or 12.5%) be discharged by utilising the Input VAT credit?
Can CST paid on Inputs be used for discharge of Output VAT/CST liability?
Can entire portion of vat/cst paid on purchase of capital goods be used to discharge the Output VAT/CST liability?
Can CST liability (2% or 12.5%) be discharged by utilising the Input VAT credit?
Can CST paid on Inputs be used for discharge of Output VAT/CST liability?
22 October 2012
01.CST paid can not be claimed as a input credit either for payment of VAT or CST.
02.VAT paid on purchase of capital goods can be sef off against VAT liability subject to other conditions.
03.VAT input credit can used for payment CST only after VAT liability subject to other conditions prescribed under state vat laws.
02.VAT paid on purchase of capital goods can be sef off against VAT liability subject to other conditions.
03.VAT input credit can used for payment CST only after VAT liability subject to other conditions prescribed under state vat laws.
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