do we need to reverse the input vat for a product , for the difference in tax amount, if it is locally purchased and sold against form C ??
dp reply pls .
Menu
Input vat reversal
Replies (3)
You cannot adjust your input VAT on purchases against CST payment. and also what ever input available against that purchase you can use for other goods output VAT payment.
And also need to pay CST
Against C form Input Credit is available i guess.
only if C Form not issued ITC Reversal need to be done.
am i right ? please correct me if am wrong
CST and VAT both are different, you cannot adjust VAT input against CST,even sales against C form also
Recent Threads
- ITR Updated returns. Time limit for filing
- ITR 2 Processed and Refund Credited to Bank
- Freelancer or Salaried
- LTCG Tax & Indexation on Debt Mutual Funds Sol
- Section 45(5A) and 194IC with carry forward of tds
- Paid tax amount, CIN generated and challan downloa
- INTRADAY INCOME PRESUMPTIVE INCOME
- Clarification on Deemed Export Status for EOU-to-E
- LTCG Tax on property
- Short term gain in itr2, missing 111A
Related Threads
CAclubindia
