tax adjustment on CST/VAT

[Guest]

In case of Rate difference and trade discount, can we adjust CST?

[Ganeshan Kalyani]

To the extent of rate difference and trade discount the CST liability in case of interstate sales is ought to increase or decrease. therefore you can adjust the CST.

[YAGAY andSUN]

Revised Returns, if mandatory/allowed and Issuance of /Receipt of Form C should be in accordance with such adjustment.

[Ganeshan Kalyani]

Agreed with you Sir.

AI Summary

Tax adjustment on interstate sales: CST liability adjusts for rate differences and trade discounts; revise returns and Form C. To the extent that price adjustments arise from rate differences or trade discounts, CST liability for the interstate sale correspondingly increases or decreases, and any revised returns and the issuance or receipt of Form C must be made in accordance with and to give effect to such adjustments.