Interstate purchase of declared goods

707 views 7 replies

Dear Members

 

We know that declared goods or goods of special importance cant be taxed at more than VAT 5%.

 

I need to know that will be the entry in case we buy these goods interstate?

Will there be an involvement of C Form.

Will CST rate be 2%?

Please advise.

 

Thanks

Shivani

shivaniadream @ gmail.com

 

 

Replies (7)
  • Interstate Sale against C Form is 2%.
  • Without C Form prevailing VAT Rate 5%.

Yes mam 

There will be involvements of C Form.

Entry will be like

1.

Purchase A/c..................Dr.

Input VAT credit receviable(2%) a/c.....dr

      To Party. A/c

Saroj in interstate purchase cst is added to purchases and question of vat doesnt arise
Saroj in interstate purchase cst is added to purchases and question of vat doesnt arise

2% with C Form

 

5% without c form.............

Yes m sorry there will be

CST payable/ or receivable....as per case may be,

 

CST @ 2% againest c form for all the goods in cst listed in vat certificate. Other wise taxed at normal rate prevailing im the state. In the given case the goods r eligible for cst @ 2%. Subject to dealer listed in cst and eligible to issue c form.

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