ITC Reversal fof FY 2013-14, VAT + CST

[Gopalasamudram Srinivasan subramanian]

If a Client has 5% Vat Purchase and 14.5% Vat Purchase

and VAT Sales 5%, Vat Sales 14.5% and Exempted WCT Sales, Service & Labour charges ( Exempted) CST 2% CST Sales against Form C, 5% and 14.5%CST sales

without Form what is the ITC Reversal to be arrived:

Sales not covered by Form C (5% & 14.5% CST Sales) x ITC availed (5% & 14.5% / Total Sales (CST + VAT)

In the Vat sales whether the exempted T/o also to be included.

Or ITC may reversed = Sales not covered by C Form x ITC availed /Total Sales (VAT+ CST) x 3/5

= Salest not covered by C Form x ITC availed / Total Sales (VAT+ CST) x 3/14.5

Department confused and taken the IT Reversal as

= Sales not covered by C Form x ITC availed /Total Sales T/o (VAT+ CST)

What one of the formula tobe adopted for 2013-14 Financial year

GS Subramanian