TNVAT ITC reversal for CST 2% sales - VAT - CST - GST

[selvakumar J]

Dear All

ITC Reversal of CST sales formula given by our CTO is =(ITC*cst sales/total sales )*(3/5or 14.5 applicable). in My doubt is Total sales = 5%+14.5%+Export sales+ CST 2% sales is it correct ? and

Our CST Sales included own manufacture sales products + imported traded item. while taken of CST sales of ITC reversal whether i will taken both or only manufacture sales

i request pls provide the reply

AI Summary

Clarification on ITC Reversal: Include VAT, CST, Export Sales; Apply Only to Manufactured Goods in Tamil Nadu. A discussion on a forum addressed the issue of Input Tax Credit (ITC) reversal for Central Sales Tax (CST) sales in Tamil Nadu. The query raised was about the correct formula for ITC reversal, specifically whether total sales should include VAT, CST, export sales, and CST 2% sales. A respondent clarified that total sales should include all these categories, but ITC reversal should apply only to manufactured goods, as ITC is claimed on goods purchased and manufactured within Tamil Nadu. The original poster acknowledged the clarification and expressed gratitude.