Tax Management India. Com
                        Law and Practice: A Digital eBook ...
TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Articles News
Highlights
D. Forum
What's New
Sub-Menu

Share:      

        Home        
 
Discussions Forum
Home Forum Value Added Tax - VAT-CST This
A Public Forum.
Anyone can participate to share knowledge.
We acknowledge the contributions of Experts/ Authors.

Submit new Issue / Query

← Previous Next →

CST SALES RETURN, Value Added Tax - VAT-CST

Issue Id: - 106924
Dated: 18-6-2014
By:- venkat eswaran
CST SALES RETURN

  • Contents

Dear Experts,

WE got our CST sales rejected matls after 2 years. Since it is more than 6 months we are not able to reverse the CST 2 percent paid amount,

but we need to account in sales return. we have accounted in sales return without reversing CST 2 percent .

My question is whether we have to show this transaction in CST Return or Not? Since no CST is revresed. Please give your valuable reply

Thanks & regards

Venkat

Posts / Replies

Showing Replies 1 to 1 of 1 Records

1 Dated: 18-6-2014
By:- Pradeep Khatri

Dear Venkat,

You are statutorily required to show such rejected material in the Statutory Returns, though no benefit of tax would be available to you.  If you do not incorporate in your CST Return, then, Department may treat it as purchases from unregistered dealers and may ask to pay the tax on such purchases.

You would have to establish one to one correlation in this regard at the time of conducting VAT/CST assessment with documentary evidences.

Regards,

Team YAGAY & SUN

(Management & Indirect Tax Consultants)


1

Old Query - New Comments are closed.

← Previous Next →

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map || ||