Vat v/s cst

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.

 

Replies (1)

It is correct.

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