Sir
Garments Manufacturing Firm Purchase @ VAT 5% and Makes Interstate sales and Charge 2 % CST , Will its VAT Refundable.
Please Suggest With Example.
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Vat refund
Replies (1)
Purchase 100 net + 5 vat = 105 total.
Sale 100 net + 2 CST = 102 total.
CST payable Rs.2 adjust against vat refund Rs.5. Hence Rs.3 vat refundable.
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