Facts
A maufacturer cum dealer purchases product A as raw material and pays VAT @ 5% on same but finished product is tax free thus no VAT payable
he also imports product Y ( thus no VAT/CST paid ) which he resells and pays CST @ 12.5%.
Query
can VAT paid on product A of 5 % be used to set off against CST of 12.5 % ??
CAclubindia
