Q : DEAR ALL, KINDLY CLARRIFY BELOW GIVEN CALCULATION LOGIC IS CORRECT?
TNVAT ACT :
PREVOIUS MONTH ITC AMOUNT : RS. 6,74,077.00
CURRENT MONTH INPUT TAX CREDIT : RS. 38,170.00
TOTAL ITC : RS. 7,12,247.00
INTERSTATE PURCHASE CST 2% AGST 'C' FORM VALUE : RS.5946.60
CST AMOUNT : RS.118.93
CST 14.5% INTERSTATE SALE VALE : RS.92,340.00
CST PAYABLE : RS.13,390.00
ITC FORWARD TO NEXT MONTH : RS.7,12,247.00 - 13,390.00 = RS.6,98,857.00.
ITC FORWARD AMOUNT IS CORRECT OR NOT.
CAclubindia
