9911796707
TMI BlogTNVAT ITC reversal for CST 2% sales - VAT - CST - GSTX X X X Extracts X X X X X X X X Extracts X X X X ..... TNVAT ITC reversal for CST 2% sales - VAT - CST - GST X X X X Extracts X X X X X X X X Extracts X X X X ..... All ITC Reversal of CST sales formula given by our CTO is =(ITC*cst sales/total sales )*(3/5or 14.5 applicable). in My doubt is Total sales = 5%+14.5%+Export sales+ CST 2% sales is it cor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rect ? and Our CST Sales included own manufacture sales products + imported traded item. while taken of CST sales of ITC reversal whether i will taken both or only manufacture sales i request pls pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ovide the reply Reply By Rangarajan D V: The Reply: Hi Selva Total sales means all sales including VAT + CST + Export sales. If you have sales of both own manufactured and traded goods, ITC reversa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l is required to be done only for manufactured goods since input tax credit is availed on the goods bought within the State of Tamilnadu, and used in the manufacture within the State. Accordingly, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... denominator (i.e. Total Sales) and CST Sales on which ITC reversal to be made, should show only manufactured goods and not both. Hope you are clarified. Reply By selvakumar J: The Reply: Thank you ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sir. Now I got clarity
Regards
selvakumar.J X X X X Extracts X X X X X X X X Extracts X X X X
|
