Input tax credit claim

VAT (Legacy) 694 views 4 replies

Dear Sir/Madam,

We do purchase chemical 'x' from a Mumbai supplier/importer with their MVAT invoice paid VAT 5%.

We want to sell this purchased chemical to our customer in other state (tamilnadu).

We issue our sales tax invoice to our tamilnadu customer with CST 2% against C-Form.

Can I claim the input tax credit that we paid to Mumbai supplier as VAT 5% ?  Kindly advise.

Thanks & Regards,

JC Kumar

Mob: 0-9444566425

Replies (4)

If such purchase is a local purchase for u (i.e. if u r also situated in MH), then u can offset VAT input credit against CST liability.

If any registered dealer issue cash memo to us with VAT can we take this VAT into our setoff.

sir 

u can claim itc on local (mah.Vat ) Purchase @ 5% which u have paid as input credit provided if u are filing vat return in maharastra.

2. for raising the cst invoice @ 2% agaist form C to tamilnadu dealer for which u can adjust the cst due of 2 % agains the  ITC taken from local purchase of chemical s in maharastra assuming u and the seller in case of local transaction, and buyer from tamil nadu are registered dealers.

with regards.

p,r,ganesh 

yes u can take ITC provided that U are buying for either input of Rawmaterial for ur production in case of Mfg unit, and or buying for resale as a dealer in the state.

with regards

p.r.ganesh


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