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If the purchaser did not submit form "c" while purchase from
outside state, and he charged for 12.5 % vat, then can he
claim input credit for Rs. 12.5 % ?
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Answer / guru
If the purchaser did not submit from "C" double of the CST
or Local sale tax so he did not claim input tax credit becoz
he is also out of state purchaser.
| Is This Answer Correct ? | 14 Yes | 2 No |
Answer / taxbeginner
Hi,
If the purchaser did not submit Form "C" declaration then
CST without Form C is applicable in this Transaction and
Seller state VAT rate for the commodity will be applicable
rate.
In the above Transaction only VAT Rate is applicable and
the Transaction still remains in the purview of CST Act and
hence no ITC can be availed.
| Is This Answer Correct ? | 10 Yes | 0 No |
Answer / h.r. sreepada bhagi
Input VAT credit is available only on Intra-state purchases
(Purchases by a registered dealer from another registered
dealer with in the same state). Inter-state transaction fall
under CST Act of the concerned state and hence Input tax
credit is not available.
| Is This Answer Correct ? | 6 Yes | 1 No |
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