Reversal of ITC for CST SALES., under TNVAT

Dipak gupta (Querist) 15 November 2014 This query is : Resolved
Sir,

I am a dealer of iron and steel code 2041, which is declared goods under CST act,

Does a dealer needs to reverse ITC of 3% for the CST Sales made.

Please clarify.

Follow Query

Report Abuse

KUMAR JAGADEESAN (Expert) 16 November 2014
Dear Mr.Gupta

I understand from your query that you had paid VAT while purchase of goods within the State, If subsequent sales are made within the state you have the benefit of ITC. However if the subsequent sale is made interstate then also the credit is still available as CST sale is zero rated sales in terms of VAT Act. There is no need to reverse ITC already availed on input purchase and you can utilise the ITC for payment of CST liability

J.KUMAR
Advocate
HYderabad

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Kerala value added tax assessed escaped sales turnover.
Levy of purchase tax u/s 12 of tnvat act
Discount related in bihar sales tax
Eligibility of depc licence sales against form c in gujarat
Can i surrender my sales tax registration certificate(tin no.)
Vat & cst - annual return
Input reversal on cst sales
Central Sales Tax
Mvat tax on wct under central sales tax
Format of vakalatnama for sales tax up