Itc reversal tn vat, cst purchase, cst sale

VAT (Legacy) 803 views 1 replies

sir

We are a manufacturer of Paper board in Tamilnadu. Registered TN manufacturer. Our purchase/sale composition per month is roughly as below

Purchase

TN VAT 5% purchase  basic value  Rs300000/-

TN VAT 14.5% purchase basic value Rs 10000/-

CST purchase against C-form at 2% ,  basic value Rs250000/-

 

Sales

TN Vat 5% sale          Rs340000/-

CST sale @ 2% against C-form   Rs320000/-

please advice me 

1) What is the ITC available in this transaction. Pl provide the formula/format , to calculate ITC

2) How to calculate, any reversal of ITC.

3) How much tax amount, we had to pay as per above transaction, to TN government

thanks

Prabu

Coimbatore

Replies (1)

you need to pay Rs.550/


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