Mvat turnover limit exceeds and vat not collected on sale
This query is : Resolved
07 August 2014
we under Maharashtra VAT Act, turnover exceeds 5 Lacs limit even after vat not collected on sales till the date of registration.
Whether we are liable to pay tax while not registered.
If liable to pay tax what is provision. Shall payable after reducing 5 Lacs limit what is penalty & interest factor.
If vat is liable on these sale then whether input vat on purchase during this period shall be reduced from the liability.
Whether we are liable to pay tax while not registered.
If liable to pay tax what is provision. Shall payable after reducing 5 Lacs limit what is penalty & interest factor.
If vat is liable on these sale then whether input vat on purchase during this period shall be reduced from the liability.
10 August 2014
The Limit has been exceeded form 5lacs to 10Lacs,
You have to first get yourself registration then collect and pay the tax, if you fail to get yourself registration within 1 month from crossing the limit, then penal provision will be applicable,
set off shall be allowed once you get yourself registration
You have to first get yourself registration then collect and pay the tax, if you fail to get yourself registration within 1 month from crossing the limit, then penal provision will be applicable,
set off shall be allowed once you get yourself registration
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- Is Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- TDS NUMBER SURRENDER
- Offsetting interest income against derivative trading losses
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Application of 115BAC
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- RCM - commercial rent paid to URP under GST
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
