Respected Sir,
We had raised one supply invoice in Mar-11 with full rate of CST. Now customer has returned one of the item of it. We have to raise credit note against the return of material in July-13. What will be the treatment to CST paid @ full rate? Can we get it back/adjust in current month's return or not?
Please advice.
You cannot adjust it with current year's CST payment, but can claim refund at the year end at the time of audit or assessment or infact get set off for the same against any asst order of that year..
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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