Dear All,
I want to know the full procedure of cst.
Can a inter state purchase on which cst has been paid can be adjusted against the output cst payable
What is meant by registered dealer. If the dealer has a TIN, does it imply he has been registrd and can we claim deduction of cst paid on purchase against cst payable on sales.
Dear,
CST is payable on Interstate Purchase and Sell where as VAT is payable on within state Purchase & Sale.
So far as CST paid on purchase from another state collection goes in to the hand of the state where from purchase is made and with respect to sale mad by you outside state collection of CST goes in to the hand of state from which sale is made. So credit of CST paid on purchase cant be set off against CST payable on sale as both tax are collection of different state govt..
CAclubindia
