Input vat reversal

Others 928 views 3 replies

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 .

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


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