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Cot/cst

Others 554 views 4 replies

kishore kumar

B.Com

32 Points Joined February 2015

Hi all!

We are registered under COT/CST in Karnataka. In this month we have purchased a Pump from Tamil Nadu and the total Invoice Amount is Rs.88,434/- including CST & Packing & Forwarding charges. (Pump amount - 85,000/- P&F charges 2% i.e. Rs.1,700/-, CST @ 2% - Rs.1,734/-).

What is the Tax amount that we need to pay to the VAT Department? How to Compute?

Thanks & Regards

Replies (4)

Rahul Chilal

CA CS DISA

713 Points Joined October 2009

You have to submit C Form

CA Sunil

Internal Auditor

204 Points Joined November 2008

If you are under Karnataka COT, KVAT prohibits specially from purchasing and selling outisde karnataka.

Regards

Sunil

DEEPAK KAUSHIK

ARTICLE

55 Points Joined January 2015

YOU HAVE TO ISSUE C FORM TO THE SELLING DEALER. AND INPUT ON CST PURCHASE IS NOT ALLOWED.

Manjunath K

Articleship

28 Points Joined February 2015

You need not to pay further vat or cst tax, the reason for the same is a cst of 2% already paid by u to the seller as invoiced. So no input credit shall be allowed on interstate purchase but u have to submit C Form (collected from LVO) to seller within the prescribed time limit.