1) CST – CST is a tax on sale/ purchase of goods. Credit on Sales Tax is not available. à Tax on purchases is added to the inventory. Also any incidental charges of purchases like freight, clearing & forwarding charges etc are to be added to the inventory. à Components of CST – a) CST à Rates of CST differ from forms to forms like Form C, Form F , Form H , Form E1. Form C is issued when – Goods are purchased\sold outside state in manufacturing, Mining etc. Rate is 2 %. Form F is issued when – There is a stock transfer between two units \ warehouses. Rate is 0% Form H is issue when – There is a Merchant Export i.e. when goods are given to a merchant for export sales purpose. Rate is 0%.
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