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.
2 Replies
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)
(21063 Points)
Replied 08 February 2011
| Originally posted by : uttam | ||
 |
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. |
 |
no input credit available on CST paid on purchase,
input credit is limited to VAT purchase only, within the state,
Recent Topics
- Sold shares and Purchased plot
- Which form to File ITR1 or ITR2 with non taxable c
- Type of account validation error
- Deductions under 80TTB &80D (actual medical ex
- GST system notice u/s 46
- Unable to add second employer in Schedule Salary i
- Income Tax E-form 71 u/s 155(20) Rule 134
- ACCOUNTING OF JOINT HOME LOAN & TREATMENT IN I
- Error in Filing online ITR 2 online java utility
- What is the New time limit for sect6148 notice?
Related Threads
Trending Online Classes
CAclubindia
