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VAT & CST

former_member660849
Participant
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Hi,

For VAT what are condition types are applicable.VAT is creditable but why CST is not creditable.

BR ,

Govind

Accepted Solutions (0)

Answers (3)

Answers (3)

former_member660849
Participant
0 Kudos

OK DONE

sridhar_narayanan2
Discoverer
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HI,

VAT - value added tax. it is being passed to next customer.

CST - It is income to the Central Government.

VAT - It is based on material will be decided whether it is part of material cost or u can claim back.

COndition type:

JVRD A/P VAT RM Ded

JVRN A/P VAT RM Non Ded

JVCD A/P VAT CG Deductib

JVCN A/P VAT CG Non Ded

JIVP VAT Payable

sridhar

former_member660849
Participant
0 Kudos

Hi ,

Ok fine, I have paid service tax Rs.1000 to the vendor in this case will it add for material cost as Rs.1000 and i can't claim back from Government .Suggest me.

BR

Govind

Former Member
0 Kudos

Hi

CST is Non deductible tax / Vary for state to state.

Incase of CST, the amount is debited to stock account after GR without any separate line item in the GR account document posting.

vIVEK