Maxim Micheal Fernandes (Managing Partner) (87 Points)
29 October 2011We are purchasing materials from Southern railway ie from other state. We have given C form and Railway collected 2 % CST. While entering in our books and while filing vAT returns (Karnataka) whether we can claim 2% as input? Kindly clarify
Thanks in advance.
Prabeer
(B. COM (H) CA & CS Final)
(5484 Points)
Replied 29 October 2011
CST paid cannot be claimed as input.
CA Pallav Singhania
(❤ Work Hard Party Harder ❤)
(32102 Points)
Replied 29 October 2011
No Its can't be claimed.....Only purchases within the state....( following elegible purchases Acrng to Vat Act)
ashish gupta
( student)
(1922 Points)
Replied 29 October 2011
No you cannot claim the CST paid as input
Pulkesh Mehta
(Chartered Accountant)
(243 Points)
Replied 30 October 2011
CST paid by the purchaser is not eligible for credit from output(CST/VAT) and purchaser has to include it in cost of purchased goods.Remember CST output (i.e CST charged on CST Sales) is eligible to be set off from VAT Input.
nilesh joshi
(Accounts)
(28 Points)
Replied 31 October 2011
if, suppose i have purchase the goods from rajkot gujrat cst charged by the seller, so purchaser is eligible for cst set off OR not , please give the correct clarification.
ashish gupta
( student)
(1922 Points)
Replied 31 October 2011
rajnaidu
(CPT Student)
(59 Points)
Replied 31 October 2011
No, in CST purchase we cannot claim input credit the whole price including 2% will be cost for us
Devang Gajjar
(Chartered Accountant)
(41 Points)
Replied 01 November 2011
No dear, we cannot claim CST 2% as input credit...............
Sameer Moledina
(Chartered Accountant)
(22 Points)
Replied 05 November 2011
CST paid on inter state purchase not available as set off although on interstate sales when u credit cst payable you can transfer cst payable to VAT payable and then claim set off
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