please anyone explain what is the significance of input to output tax ratio and how excess credit should be dealt if goods produced are mostlu sent to outside state for sale and output VAT is a lower amount as compared to input tax paid on purchasese
You can adjust the input tax from CST sale and if it remain excess than you can carry forward it for next quarter.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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Naveen Fintech Pvt Ltd
Kolkata
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