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claiming input tax credit under TNVAT Act, 2006

(Querist) 06 July 2009 This query is : Resolved 
How to find out input tax credit in the following situate under Tamil Nadue Value Added Tax Act, 2006

Under Tamil Nadu Value Added Tax Act, 2006 input tax credit is restricted on interstae sales without form-c [section 19(5)(c)], if a dealer has effected local sales, interstae sales [against form-c and without form-c] out of stocks procured from local registered dealer purchase, interstae purchase and stock inward from outisde the state [other than tamil nadu]

kindly produce the provision of law applicable
s.subramanian (Expert) 31 October 2010
query for CA club
R.Ramachandran (Expert) 31 October 2010
Dear Vasanth,
You say you are a professional.
You know that there is an act called TN VAT Act, 2005. I hope you have the book with you.
You are aware that there are provisions for availing input tax credit. Tax credit is available only to the extent of VAT paid within the State. [there are also restrictions as to in respect of which the credit would not be available].
Clearly, the Central Sales Tax paid on purchase of goods from other state is not available as a credit.
However, when you make CST sales to other states, you can utilise the VAT credit against the CST to be paid by you.
It is quite strange for a professional to ask basic questions like provision of law applicable etc.
You say you are a professional - are you a Sales tax professional - otherwise you are professional in which area?

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