VAT Input Credit Adjustment against CST Liability

What will happen to tax paid on purchases in this example:- 

Purchase - 100000

Tax paid - 5000

Interstate sale made - 120000(100000+20000)

C.S.T.- 2400 (2%)

Itc adjusted - 5000-2400

Itc remaining- 2600

Now whawhat will happen to this excess tax paid by me..???

Remaining ITC either you can forward to Next Period Or you can claim for Refund from VAT Authority !

Originally posted by : tushar
	What will happen to tax paid on purchases in this example:- Purchase - 100000Tax paid - 5000Interstate sale made - 120000(100000+20000)C.S.T.- 2400 (2%)Itc adjusted - 5000-2400Itc remaining- 2600Now whawhat will happen to this excess tax paid by me..???

Dear sir,

please clearly vat ouput & vat input transcation and cst input & cst out put transcation with example and what we can adjustment with vat into cst input or output value or not.please give a simple example.

i am purchaseing capital goods from outside state & within state against tax invoice.

which tax credit available for me to take credit of vat payment.

regards

ashutosh

whether credit of cst can be taken against the output cst on inter state sale...???

Dear Expert,

Pleaes Give me Urgent Reply

Q: Feb'17 We sales at Delhi @ 5%Tax (2500.00) and then in March'17 Goods Return so my Question 

1> in March Month our CST Tax Amount :500.00  so i adj above tax amount against Means My Closing 2000.00 

2> in April CST Tax @ 5% 1500.00 and my openning 2000.00 means 500 Credit till aviable

but in Form 3b how to show openning 

CAN WE ADJUST INPUT TAX CREDIT OF CST PURCHASE WITH OUTPUT CST PAYABLE?????

The invoice raised CST @ 14.5 %, that the CST Tax Amt, we can take the input as VAT @ 14.5, So please clear my doubt 

can vat payable of Jun17 can be settoffed againt gst input of july ?