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Eligibility in input of cst

CA AMIT KUMAR PANDEY (Job) (142 Points)

11 May 2013

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

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9 Replies

Deepak Dargad (Chartered Accountant....) (9787 Points)
Replied 11 May 2013

No you cant claim that CST against output CST

CA NITIN AGRAWAL (Chartered Accountant) (168 Points)
Replied 11 May 2013

you can't book cst paid as input

Sonam Bidasaria (CA) (770 Points)
Replied 11 May 2013

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.

Sonam Bidasaria (CA) (770 Points)
Replied 11 May 2013

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.

Deepak Dargad (Chartered Accountant....) (9787 Points)
Replied 11 May 2013

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

ALOK KUMAR JHA (STAFF) (74 Points)
Replied 12 May 2013

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

ALOK KUMAR JHA (STAFF) (74 Points)
Replied 12 May 2013

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

pawan tewari ( ) (544 Points)
Replied 12 May 2013

only one question.

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

AMIT KUMAR JAIN (CA) (94 Points)
Replied 13 May 2013

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%.