Regarding adjustment of cst payable
Prakash Chetwani
(Querist) 03 July 2013
This query is : Resolved
I am a registered dealer in Gujarat, I have VAT payable in a month, but in the same month i have ogs sales, on which i have collected CST, i want to know whether i adjust the CST payable with VAT payable and pay collective as VAT?
please reply asap
Thanking you
R Trivedi
(Expert) 03 July 2013
Generally all the states follow separate deposit challans for VAT and CST. Basic concept is:
1. VAT to be paid = VAT Charged - VAT input
2. CST to be paid = CST charged - Excess VAT
(after claculation in 1.)
(if your VAT input is much higher, then this credit can be used to adjust even the "CST to be paid" also. For example if your VAT input is 100, VAT charged is 50 and CST charged is 25, then you do not have to pay anything (nil return) and 100-50-25 will be carried forward as VAT credit with you for next period.
