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

VAT and Sales Tax – Started By: – selvakumar J – Dated:- 19-7-2014 Last Replied Date:- 23-7-2014 – Dear AllITC 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 ? andOur 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 salesi request pls pro

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