Shal we get any input credit ???

VAT (Legacy) 1554 views 2 replies

Hi Freiends.....I Have a query, Hope u alll help me in this regard....!!

My Friend have a sole trade business in State Andhra Pradesh ( A.P ) and he purchased some furniture from Mumbai for selling purpose and he paid CST there. Now my doubt is does he get any Input credit while selling that goods at A.P ? Plz help me about the Tax Treatement in this situation.....Thanks alot friends....!!

 

Replies (2)
Input tax credit is not available on intra-state purchases. Available only on within state purchases. Total value of the goods including cst is to be treated as purchase a/c.

No ITC on inter state purchases . However you can set off the CST liability against VAT REFUND i.e . your ITC is more than the VAT payable


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