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GST and Vat
When gst was not applicable means that Vat and cst was applicable .At that time was supplier was able to get the benefit of setting of Input tax credit against the adjustment of tax liability against outward supplies?????
Replies (3)
Input was available only on intrastate purchase .
Yes You can adjust VAT input tax credit against tax liability and after that if there is surplus in tax credit you can also adjust again CST tax liability
Yes.. Earlier under VAT and ST regime input (local) was used to be set off against output liability..
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