A company has both CST Purchases and CST sales. Can we avail input tax credit in the CST account? I mean can we avail input tax credit for CST payable against CST paid.
A company has both CST Purchases and CST sales. Can we avail input tax credit in the CST account? I mean can we avail input tax credit for CST payable against CST paid.
| Originally posted by : SENTHILK KUMAR | ||
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A company has both CST Purchases and CST sales. Can we avail input tax credit in the CST account? I mean can we avail input tax credit for CST payable against CST paid. | ![]() |
the inter-state purchases liable to CST are not eligible for input tax credit.
however, the liability for CST can be set off against the input tax credit earned on other eligible purchases.
however, when liability of CST arises on a inter-state sale, the input tax credit can be used for set off,
as the revenue in this case the revenue does not go to any other state.
No, you can not take credit of tax of CST purchase, but if you have access VAT balance after set off against local sales, then you can take credit of that balance VAT against your CST payable as tax credit.
agreed with rajiv
i agreed with jeetendra goyal sahab
PURCHASE OF TILES FROM INTER-STATE AGAINST C FORM @ 2%.
CAN WE ADJUST THE INPUT OF 2% IN OUR TN LOCAL PURCHASE
No, only CST payable can be adjusted with available excess input VAT i.e. input vat- output vat.
A NEW COMPANY PURCHASE MACHINERY BY PAID CST CAN CST INPUT TAKEN BY FURTHER CST LIABILITIES?
A NEW COMPANY PURCHASE THEIR MACHINERY BY PAID CST CAN CST INPUT TAKEN BY FURTHER CST LIABILITIES?
I want to know that can Input CST is adjustable with Output CST like vat adjustment?
I KNOW THAT OUTPUT CST CAN BE ADJUSTED WITH VAT INPUT CREDIT IS IT RIGHT?
Soumik
PURCHASE OF TILES FROM INTER-STATE AGAINST C FORM @ 2%. CAN WE ADJUST THE INPUT OF 2% IN OUR TN LOCAL PURCHASE
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