venkat (manager) (48 Points)
10 September 2011hi all
we are a trading company based in tamilnadu. we buy our goods with 14.5% local input tax. we have customers in other states for whom we sell using CST 2% with C-form. So is there any tax loss for us in this case.
regards
venkat
praveen
(Chartered Accountant)
(6971 Points)
Replied 10 September 2011
No you can claim the input tax paid as refund after paying off the 2% CST collected.
Join us on Facebook https://www.facebook.com/pages/Sampoorna/184315778304697
DAYANANDA K N
(ACCOUNTS EXCECUTIVE)
(575 Points)
Replied 10 September 2011
VAT paid for purchases is available as credit. This can be used for payment of CST as well as VAT. So there is no loss.
Regards
Dayananda
CAclubindia
