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May 2008

Uncertainty over CST rate cut : Maharashtra Govt. asks dealers to continue collecting 3% on interstate sales : Trade Circular No. 14T of 2008, dated 15-4-2008.

By Pinky Shah, Sonalee Godbole, Gaurang Gandhi, Chartered Accountants
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27 Uncertainty over CST rate cut :
Maharashtra Govt. asks dealers to continue collecting 3% on interstate sales :
Trade Circular No. 14T of 2008, dated 15-4-2008.

The Finance Minister in the Budget speech has informed the
reduction in the CST rate from 3% to 2% with effect from 1-4-2008. However, a
Notification giving effect to such change is yet not issued. Hence the
Maharashtra Government has advised dealers to deduct CST @ 3% till the
Notification for reduction in the rate is issued and gazetted.

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