Haryana vat procedure ready rekoner
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 June 2013
Dear Friends,
Could anyone, Please suggest about the compliance procedure in relation to Haryana Vat Process..
Thanks,
Could anyone, Please suggest about the compliance procedure in relation to Haryana Vat Process..
Thanks,
02 June 2013
I feel the question is very vague. Pl be clear about your requirement....mjk
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 June 2013
Pl hel[ me with some study notes covers as ready reckpner for the Haryana State wrt VAT & CST procedure..
27 July 2024
Creating a comprehensive study guide or ready reckoner for VAT and CST procedures specific to Haryana involves summarizing the key aspects of the Haryana VAT Act and the Central Sales Tax Act. Below is a detailed outline and notes that you can use as a reference:
---
## **Ready Reckoner for Haryana VAT & CST Procedures**
### **1. Haryana VAT Act Overview**
**1.1. **Key Definitions:**
- **Dealer:** A person who carries on business of buying or selling goods in Haryana.
- **Goods:** Includes all types of tangible property.
- **Turnover:** Total value of sales, including VAT, but excluding excise duty and any other taxes.
**1.2. **Registration:**
- **Mandatory Registration:** Required if turnover exceeds the threshold limit as specified in the Haryana VAT Act.
- **Application Form:** Typically Form VAT-1 for new registration.
- **Documents Required:** Proof of identity, address proof, and business proof.
**1.3. **VAT Rates:**
- **Standard Rate:** Typically 4% or 5%.
- **Specific Goods:** Certain goods like petroleum products, luxury items may have different rates.
- **Check Updates:** Always refer to the latest Haryana VAT rate schedule.
**1.4. **Filing of Returns:**
- **Monthly Returns:** Form VAT-15 for monthly returns.
- **Quarterly Returns:** Form VAT-16 for quarterly returns, if applicable.
- **Annual Returns:** Form VAT-17 for annual returns.
**1.5. **Input Tax Credit:**
- **Eligibility:** Available on purchases used for taxable sales.
- **Documentation:** Maintain proper invoices from registered dealers.
- **Restrictions:** No credit on goods purchased from unregistered dealers.
**1.6. **Payment of VAT:**
- **Due Date:** VAT payments are generally due monthly or quarterly.
- **Mode of Payment:** Can be paid through online portals or authorized banks.
**1.7. **Exemptions and Deductions:**
- **Exemptions:** Certain goods and services may be exempt from VAT.
- **Deductions:** Available for goods exported out of Haryana, or sales to SEZs.
**1.8. **Audit and Compliance:**
- **VAT Audit:** Required if turnover exceeds the specified limit.
- **Compliance:** Regularly update records, file returns on time, and maintain proper documentation.
### **2. Central Sales Tax (CST) Act Overview**
**2.1. **Key Definitions:**
- **CST:** A tax on sales of goods in the course of inter-state trade or commerce.
- **Inter-State Sales:** Sales occurring between different states in India.
**2.2. **Registration:**
- **CST Registration:** Required for dealers engaged in inter-state sales.
- **Form:** Typically Form CST-1 for registration.
- **Documents Required:** Similar to VAT registration.
**2.3. **CST Rates:**
- **Rate:** Generally 2% (against Form C). Different rates apply based on the nature of goods and the state of the buyer.
**2.4. **Forms Under CST:**
- **Form C:** Used for concessional rate of 2% CST. Issued by the purchaser.
- **Form H:** Used for goods meant for export. Issued by the purchaser.
- **Form E-I & E-II:** Used for inter-state stock transfers.
**2.5. **Filing of Returns:**
- **CST Returns:** Generally included in VAT returns but verify if separate filing is required.
**2.6. **Input Tax Credit:**
- **CST Credit:** Not available for CST paid. Only VAT credit can be claimed.
**2.7. **Documentation and Compliance:**
- **Maintaining Records:** Keep records of all inter-state sales and purchases.
- **Verification:** Ensure all forms (C, H, etc.) are properly filled and submitted.
### **3. Practical Examples and Common Scenarios**
**3.1. **Example: Sale of Old Vehicles:**
- **VAT:** If selling old vehicles as a registered dealer, VAT may apply based on state regulations.
**3.2. **Example: Export Sales:**
- **H Form:** Issued for goods exported to claim VAT exemption.
**3.3. **Example: Inter-State Sales:**
- **Form C:** To be issued for concessional CST rate.
**3.4. **Example: Purchases from Out-of-State Suppliers:**
- **VAT Credit:** Input VAT credit can be claimed if the supplier is registered in Haryana.
---
**Note:** Always refer to the latest Haryana VAT Act and CST provisions, as tax laws are subject to amendments. Consulting with a tax professional is advised for complex scenarios and compliance.
---
Feel free to use this outline and expand upon each section based on specific requirements and updates from Haryana's Commercial Taxes Department.
---
## **Ready Reckoner for Haryana VAT & CST Procedures**
### **1. Haryana VAT Act Overview**
**1.1. **Key Definitions:**
- **Dealer:** A person who carries on business of buying or selling goods in Haryana.
- **Goods:** Includes all types of tangible property.
- **Turnover:** Total value of sales, including VAT, but excluding excise duty and any other taxes.
**1.2. **Registration:**
- **Mandatory Registration:** Required if turnover exceeds the threshold limit as specified in the Haryana VAT Act.
- **Application Form:** Typically Form VAT-1 for new registration.
- **Documents Required:** Proof of identity, address proof, and business proof.
**1.3. **VAT Rates:**
- **Standard Rate:** Typically 4% or 5%.
- **Specific Goods:** Certain goods like petroleum products, luxury items may have different rates.
- **Check Updates:** Always refer to the latest Haryana VAT rate schedule.
**1.4. **Filing of Returns:**
- **Monthly Returns:** Form VAT-15 for monthly returns.
- **Quarterly Returns:** Form VAT-16 for quarterly returns, if applicable.
- **Annual Returns:** Form VAT-17 for annual returns.
**1.5. **Input Tax Credit:**
- **Eligibility:** Available on purchases used for taxable sales.
- **Documentation:** Maintain proper invoices from registered dealers.
- **Restrictions:** No credit on goods purchased from unregistered dealers.
**1.6. **Payment of VAT:**
- **Due Date:** VAT payments are generally due monthly or quarterly.
- **Mode of Payment:** Can be paid through online portals or authorized banks.
**1.7. **Exemptions and Deductions:**
- **Exemptions:** Certain goods and services may be exempt from VAT.
- **Deductions:** Available for goods exported out of Haryana, or sales to SEZs.
**1.8. **Audit and Compliance:**
- **VAT Audit:** Required if turnover exceeds the specified limit.
- **Compliance:** Regularly update records, file returns on time, and maintain proper documentation.
### **2. Central Sales Tax (CST) Act Overview**
**2.1. **Key Definitions:**
- **CST:** A tax on sales of goods in the course of inter-state trade or commerce.
- **Inter-State Sales:** Sales occurring between different states in India.
**2.2. **Registration:**
- **CST Registration:** Required for dealers engaged in inter-state sales.
- **Form:** Typically Form CST-1 for registration.
- **Documents Required:** Similar to VAT registration.
**2.3. **CST Rates:**
- **Rate:** Generally 2% (against Form C). Different rates apply based on the nature of goods and the state of the buyer.
**2.4. **Forms Under CST:**
- **Form C:** Used for concessional rate of 2% CST. Issued by the purchaser.
- **Form H:** Used for goods meant for export. Issued by the purchaser.
- **Form E-I & E-II:** Used for inter-state stock transfers.
**2.5. **Filing of Returns:**
- **CST Returns:** Generally included in VAT returns but verify if separate filing is required.
**2.6. **Input Tax Credit:**
- **CST Credit:** Not available for CST paid. Only VAT credit can be claimed.
**2.7. **Documentation and Compliance:**
- **Maintaining Records:** Keep records of all inter-state sales and purchases.
- **Verification:** Ensure all forms (C, H, etc.) are properly filled and submitted.
### **3. Practical Examples and Common Scenarios**
**3.1. **Example: Sale of Old Vehicles:**
- **VAT:** If selling old vehicles as a registered dealer, VAT may apply based on state regulations.
**3.2. **Example: Export Sales:**
- **H Form:** Issued for goods exported to claim VAT exemption.
**3.3. **Example: Inter-State Sales:**
- **Form C:** To be issued for concessional CST rate.
**3.4. **Example: Purchases from Out-of-State Suppliers:**
- **VAT Credit:** Input VAT credit can be claimed if the supplier is registered in Haryana.
---
**Note:** Always refer to the latest Haryana VAT Act and CST provisions, as tax laws are subject to amendments. Consulting with a tax professional is advised for complex scenarios and compliance.
---
Feel free to use this outline and expand upon each section based on specific requirements and updates from Haryana's Commercial Taxes Department.
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