Purohit Traders purchased raw materials from outside the State and paid CST of ₹ 40,000. Its output credit on VAT due to sales within state amounts to ₹ 2,40,000. Its input VAT credit on intra-state purchases amounts to
CS Executive · Tax Laws and Practice · PYQS · June 2017
Purohit Traders purchased raw materials from outside the State and paid CST of ₹ 40,000. Its output credit on VAT due to sales within state amounts to ₹ 2,40,000. Its input VAT credit on intra-state purchases amounts to ₹ 1,60,000. The net VAT liability is :
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Value Added Tax (VAT) / Central Sales Tax (CST)
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