TMI BlogCST, Entry Tax & VATX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear All, I have purchased a Tourist vehicle from Madyapradesh with C Form Billing of 2% CST and i paid 12.5 % Entry Tax for TN Govt. Now as i want to resell that vehicle, can i collect the CST 2% and As well as 14.5% VAT from Customer. Pl Clairfy me. Since already i paid 2% as CST in C form Billing, and again 12.5% as ET to TN Govt. But my friends are saying that after sales of vehicle i have to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pay 14.5% TN vat. (Balance of 2%, from 12.5% Entry Tax) is it so? - Reply By Ganeshan Kalyani - The Reply = The taxes paid on purchases does not form a criteria for levying taxes on sales. you have purchased interstate by paying CST@2% against form C. But while selling locally you have to apply the local taxes applicable to that product as per the state VAT schedule. There is no other ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... formula that to check the respective schedule entry of VAT Act. - Reply By YAGAY AND SUN - The Reply = Can a tourist vehicle be purchased against Form C under CST Act, 1956 read with the CST (Registration and Turnover) Rule, 1957 ? - Reply By Ganeshan Kalyani - The Reply = Logically not. The querist is requested to substantive how he succeeded in issuing Form C. Awaiting his revert to c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... omment further. Thanks. - CST, Entry Tax & VAT - Query Started By: - Muralidharan J Dated:- 22-2-2016 Other Topics - Got 3 Replies - Indian Laws - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
