Annual return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 May 2014 i am a registered composition dealer in R-VAT. i want to submit my annual return for the F.Y. 2012-13 and 13-14. can i furnish them now and if yes then what are the penalties. please solve my problem as soon as possible. its urgent plz...

Prateek Jain

Prateek Jain (Expert)
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12 May 2014 Hi

Please clarify whether there is any liability arises in the said period or you wish to file NIL return

Querist : Anonymous

Querist : Anonymous (Querist)

12 May 2014 yes its a nil return

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Querist : Anonymous

Querist : Anonymous (Querist)

12 May 2014 i am in the category of "Yearly Composite Dealer". In which form i have to submit my annual return. and plz specify the penalty and fine for the F.Y. 2012-13

Prateek Jain

Prateek Jain (Expert)
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13 May 2014 Hi

From 1/04/2013 Rule 19A Has been amended & prior to that i.e upto 31.03.2013 19A says :

19A Late fee.-
Where a dealer furnishes the return after the prescribed time, he shall pay a late fee of-

(i) rupees one hundred per day subject to a maximum of rupees fifty thousand in case the dealer is required to pay tax for each month or part thereof under section 20 of the Act and

(ii) rupees fifty per day subject to a maximum of rupees five thousand, in all other cases

So second part applies to you for the annual return upto 2012-2013

Regards