ITC Reversal fof FY 2013-14

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... If a Client has 5% Vat Purchase and 14.5% Vat Purchase and VAT Sales 5%, Vat Sales 14.5% and Exempted WCT Sales, Service Labour charges ( Exempted) CST 2% CST Sales against Form C, 5% and 14.5%CS .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... T sales without Form what is the ITC Reversal to be arrived: Sales not covered by Form C (5% 14.5% CST Sales) x ITC availed (5% 14.5% / Total Sales (CST + VAT) In the Vat sales whether .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... the exempted T/o also to be included. Or ITC may reversed = Sales not covered by C Form x ITC availed /Total Sales (VAT+ CST) x 3/5 = Salest not covered by C Form x ITC availed / Total Sales .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... (VAT+ CST) x 3/14.5 Department confused and taken the IT Reversal as = Sales not covered by C Form x ITC availed /Total Sales T/o (VAT+ CST) What one of the formula tobe adopted for 2013-1 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 4 Financial year GS Subramanian - ITC Reversal fof FY 2013-14 - Query Started By: - Gopalasamudram Srinivasan subramanian Dated:- 1-6-2016 Value Added Tax - VAT-CST - VAT and Sales Tax - Discu .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ssion 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

→ Full Text of the Document

X X   X X   Extracts   X X   X X