Eligibility in input of cst

1130 views 9 replies

 

 

Hello Friends & Experts

 

We at Maharashtra had purchased material from gujrat & the party from gujrat had charged 12.5% CST on such material.

Now my question is, are we eligible to take input of such CST charged against output CST in Maharashtra..?

Please give me expert answer with proof…

 

THANKS IN ADVANCE

 

REGARDS

Amit kumar pandey

Replies (9)

No you cant claim that CST against output CST

you can't book cst paid as input

Unlike VAT, you cannot adjust input CST against output CST liability. Whenver CST is paid on purchase of asset/ stock, it becomes an integral part of the cost and it should be added to the cost of stock or asset purchased.

However, in case the Comapny is having any Input VAT credit lying in its books of account, it can adjust the same with CST outplut liabilty.

Totally Agree With Sonam ji..........................

HEYYY YOU CAN NOY ADJUST INPUT CST FROM OUPUT LIABILITY NEITHER VAT NOR CST.YOUR INPUT CST WILL BE YOUR COST.

 

HEYYY YOU CAN NOY ADJUST INPUT CST FROM OUPUT LIABILITY NEITHER VAT NOR CST.YOUR INPUT CST WILL BE YOUR COST.

 

only one question.

revenue from cst goes to state or central govt????

Originally posted by : pawan tewari

only one question.

revenue from cst goes to state or central govt????

The Revenue from CST goes to the Central Government but the amount is retained by the State Government.

In order to encourage the Industry within own state, CST was imposed initially at 4% (only agasint "C Form"), other wise it would attract higher Rate of Tax. The CST was about to be abolished in a Phased manner, but it is currently retained at 2%. 


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