Against C form
Mr. A, of Tamilnadu, purchased goods of Rs. 5725 which includes VAT of Rs. 725 from Tamilnadu.
Mr. A. Sold the above goods to Mr. B of Karnataka for Rs. 5100 which includes CST of Rs. 100 (against C form) – Now A is liable to pay CST of Rs. 100 collected from Mr. B.
Can Mr. A set off the ITC of Rs. 725 against the CST liability of Rs. 100?
Without C form
Mr. A, of Tamilnadu, purchased goods of Rs. 5725 which includes VAT of Rs. 725 from Tamilnadu.
Mr. A. Sold the above goods to Mr. B of Karnataka for Rs. 5725 which includes CST of Rs. 725 (without C form) – Now A is liable to pay CST of Rs. 725 collected from Mr. B.
Can Mr. A set off the ITC of Rs. 725 against the CST liability of Rs. 725?
CAclubindia
