can i take input tax credit on inter state purchase? reply
breifly.
- 9 Answers
- 31990 Views
- IOCL, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / shalu jain
NO,WE CAN NOT TAKE INPUT CREDIT OF INTERSTATE
PURCHASE,BECAUSE IN INTERSTATE PURCHASE THE SALER STATE IS
DIFFRENT FORM BUYER STATE,AND BUYER STATE DOES NOT GIVE
INPUT CREDIT THEY ALLOW ONLY LOWER RATE AGAINST C-FORM
| Is This Answer Correct ? | 40 Yes | 6 No |
Answer / ramesh.k.s
NO,IT IS NOT POSSIBLE TO TAKE INPUT CREDIT OF INTERSTATE PURHCASE,BECAUSE WE ARE PAYING TAX ON PURCHASE ONE STATE BUT WE ARE CLAIMING INPUT ON PURCHASE SOME OTHER STATE.
| Is This Answer Correct ? | 24 Yes | 4 No |
Answer / tanuj kumar
no we cant take credit. becoz cst paid on purches...is not
allowed
| Is This Answer Correct ? | 17 Yes | 2 No |
Answer / ramachandra
We can not take input credit on interstate purchases
because purchase and sale effected in different states
| Is This Answer Correct ? | 14 Yes | 0 No |
Answer / satya
No, We can't take in put tax cedit on interstate sales
because buyer is not purchasing the material form same
state. So other states won't allow to take credit on
interstate sales
| Is This Answer Correct ? | 11 Yes | 2 No |
Answer / kumar
NO YOU CANNOT TAKE CREDIT ON CST PURCHASES MADE, BECAUSE OF IT IS BENEFICIAL TO SELLER'S STATE , NOT TO PURCHASER'S STATE.
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / uday
Yes.
Formula: Output Tax(from Sales) - Input Paid Tax [thrg
Purchase(Local + Out)]
| Is This Answer Correct ? | 2 Yes | 20 No |
Answer / arjun bassi
yes we can take .
ITC = OUTPUT TAX -INPUT TAX .
| Is This Answer Correct ? | 3 Yes | 22 No |
WHAT ARE SERVICE TAX RATES ON AUTOMOBILES PARTS
Income Tax Rules related to TDS?
what is vat?
what is rate of sale tax and vat
what is wct? what is it applied ?
Please tell me what is the meaning of equity share, dividends,share exchange,etc, please give me clear & briefly answer?
What is income tax? How is it calculated?
statutary compliances?
WHAT IS CST & WHAT IT'S RATE ?
8 Answers Bombay Rayon Fashions,
plzzzzzz help me friend my question is, is the tds of part of income tax and when it deduct from salary and why becose tds is deduct only secoundry primary income like lotory etc..
we are registerd dealer in delhi we are purchase some goods from unregisterd dealer pls. suggest me what type entry in my book for records . all pur. in cash
How is form 16 different from form 16A
Audit 
