NOTIFICATION OF CST 3% TO 2%

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

B K PASHA

GM FINANCE

ACMI INDUSTRIES

HYDERABAD

Dear All,

As per FM spech the new rate of 2% will be notified only after discussion with State ministers.Then only the new rate is notified.

Till that 3% will continue.

Pls find below the FM spech on 29.02.08

It is now proposed to reduce the rate 2% from April-1,2008.COnsultastion are underway on the compensation for losses, if any and once the agreement is reached the new rate will be notified.

So it is clear that 3% will continue

S.Sunder

As the notifcation regarding reduction of cst from 3% to 2% is not been given. Hence in my opinion we must charge it as 3% rather than 2%.

Thanks

As the notifcation regarding reduction of cst from 3% to 2% is not been given. Hence in my opinion we must charge it as 3% rather than 2%.

Thanks

with reference to the query by Mr Bhat as above.

till the union finance minister holds a meeting with the state finance ministers regarding what amount the center will reimburse to the states on account of the loss of CST occured by the states, the CST of 3% will continue. 

only after this successful meeting the finance minister will issue a notification regarding 2 % CST. and only after the notification is issued we will be able to collect 2 % CST.

Since the FM fas already announced in Budget for 2008-09, the reduction of CST rate with effect from 1.4.2008 from 3% to 2% and this Budget have already been approved by the parliament , we should charged CST @ 2%. There is no need of issuing notification when the Budget has been paased by the Parliament and duly been approved by Hon'ble President of India.

Manager

Galaxy International

Amit Gupta

Sir ,

Please confimr us whether  we should charge CST 3% or 2% from 01.04.08.

Please reply ASAP.

Regards,

Gaurav

UKB Electronics P. ltd.

Delhi

Ph. No. 9910992750

Amit, do n't do that. It will cost you later. Wait for the notification to come, till such time charge 3%.

since no notification has come from deptt. till date what will be the rate 3% or 2% ??????????????/

since no notification has come from deptt. till date what will be the rate 3% or 2%

you will have to charge only 3%. you will have to wait for the F M to hold discussions with the states F M to arrive at what the center is going to compensate for the states' revenue loss on account of the reduction in cst to 2%.

only after this discussion and notification we will be able to charge @ 2%.

wait for the end of this month........ we may get a notification.   

hi

hi 12