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NOTIFICATION OF CST 3% TO 2%

CA. BIJENDER KR. BANSAL (ACA, B.COM) (8143 Points)

02 April 2008

Dear All, As you know as per Budget 2008-09, CST rate is 2% since 1st April 2008. But till time no notification is coming from Sales tax department. Then what we have to charged 3% or 2%. Please give solution asap. Thanks & Regards CA. B.K.BANSAL

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175 Replies

RANDHIR KUMAR SINGH (ACCOUNTANT) (34 Points)
Replied 02 April 2008

hi, till the time it does not get notified the effective rate will remain the rate which is notifed i.e,3% instead of 2%........thx

Assessee (advocate) (108 Points)
Replied 02 April 2008

in central budget 08 the proposal is that 2% cst efficative from 1-4-2008 and they also proposed up till 2010 the cst will be nil so as per my openion 2% will take effect 1-4-2008

(Guest)

I endordsed the view expressed by Mr Randhir Kumar, Till notified rate of CST will remain 3%.

astha (CA, CS) (85 Points)
Replied 03 April 2008

Though the rate of CST has been reduced from 3% to 2%, no notification has been issued in this respect. As such there is no other option but to charge CST @ 3%. Also in the respective state budgets it has been said that amendments will take place after the notification has been issued. We are also charging CST @ 3% in the absence of any notification.

CA O.P. SINGH (O P Singh & Co.) (426 Points)
Replied 03 April 2008

since no notofication received till date it will be 2%....

CA O.P. SINGH (O P Singh & Co.) (426 Points)
Replied 03 April 2008

sorry i have mentioned by mistakely 2% actually it will be 3% ....

(Guest)

hello cst rate 1/4/2008 se 2% ya 3% plz reply

C.A Alok Mukherjee (service) (462 Points)
Replied 03 April 2008

It will be 3% till such time the notification issued. Chennai Commissionerate had already issued a directive to the departmental officers conforming CST rate 3% till such time notification conforms the rate. Therefore, please carry the sales billing by charging CST rate at 3% as usual, and if later on, the CST rate 2% is conformed retrospectively from 1st April; adjustment can be made by issuance of credit note.

(Guest)

wat will be the rate of cst from 1.4.08 2% or 3%

(Guest)

CST NOTIFICATION NO. PLEASE

(Guest)

In Central budget 08 the proposal is that 2% cst efficative from 1-4-2008 and they also proposed up till 2010 the cst will be nil so as per my openion 2% will take effect 1-4-2008. So we have start the billing under C.S.T. 2%. It is ok or not, please inform immediately.

(Guest)

Today, 8th April 2008, Chief Ministers of all States met with Finance Minister of India to decide the final otutcome for reduction of CST from 3% to 2%. No fruitful result came and as shown in the www.taxindiaonline.com that "UNCERTAINNTY HOVERS OVER CST RATE CUT NOTIFICATION; 3% RATE CONTINUES TO PREVAIL".

Regards,

Man Mohan Gupta

Executive -Sales Tax (JSL)