Vat set off
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 April 2015
Hi,
My company is registered in maharashtra. I want to know whether the CST paid during the purchases made from the other states are eligible for a set off while filling VAT?
For Eg:-
X purchased from karnatka for Rs 100000 & CST is paid @2% which is Rs.2000/-
Same X sold in maharashtra for Rs.200000 and VAT received @12.5% which is Rs.25000/-
Whether i need to pay Rs23000(25000-2000) OR 25000? Whether CST which is already paid will be set off?
My company is registered in maharashtra. I want to know whether the CST paid during the purchases made from the other states are eligible for a set off while filling VAT?
For Eg:-
X purchased from karnatka for Rs 100000 & CST is paid @2% which is Rs.2000/-
Same X sold in maharashtra for Rs.200000 and VAT received @12.5% which is Rs.25000/-
Whether i need to pay Rs23000(25000-2000) OR 25000? Whether CST which is already paid will be set off?
10 April 2015
Set off for CST paid is not available. You need to pay Rs. 25000 only.
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