can we adjust cst paid on purchase against vat output. as our sales is more with in state & we have all interstate purchases.
if we can then what is the procedure in the state of MADHYA PRADESH.
uttam (article) (25 Points)
07 February 2011can we adjust cst paid on purchase against vat output. as our sales is more with in state & we have all interstate purchases.
if we can then what is the procedure in the state of MADHYA PRADESH.
tme s limted,bt drms r unlmtd
(Mba ( fin.) Ca final Student)
(257 Points)
Replied 07 February 2011
you cant adjust Cst which u paid on purchase..
Input credit is adjusted only with output credit(both within state or outside state)means you can adjust excess input with Cst
But you cant adjust cst which you paid on interstate purchase ,it is taxable purchase
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 08 February 2011
| Originally posted by : uttam | ||
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can we adjust cst paid on purchase against vat output. as our sales is more with in state & we have all interstate purchases. if we can then what is the procedure in the state of MADHYA PRADESH. |
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no input credit available on CST paid on purchase,
input credit is limited to VAT purchase only, within the state,
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