Reverse tax
This query is : Resolved
04 April 2012
Sir, i want to know that what is the basic concept of revrse tax in rajasthan pls send me it with example.
07 April 2012
To understand what is reverse tax then you have start it with VAT etc. This is nothing but commercial tax in Rajasthan. It is like this
FAQ
Category: GENERAL
Question What is VAT
Answer VAT is a simplified and transparent system of tax in which tax is levied on the
value additions, at each stage in the production-distribution with provision of
set-off of tax paid on earlier stage.
Question What taxes will VAT replace?
Answer It will replace RST Surcharge and Turnover Tax.
Question How VAT differs from Sales Tax?
Answer Sales tax is single point levy as against multiple point levy under VAT with set
off provisions being available for tax paid at earlier stage. Thus, in sales tax no
tax is being levied on the value additions on subsequent sales
Question How does VAT work?
Answer Under VAT tax is paid at each stage of Sale, the value addition is taxed and setoff of the tax paid in the State at the earlier stage (input tax) is granted against
subsequent sales (output tax). Thus VAT eliminates tax cascading.
Question How is the tax liability of a dealer calculated under VAT?
Answer The net tax payable by a VAT dealer under the VAT Act would be equivalent to
the total of the output tax, purchase tax and reverse tax after reducing there from,
the amount of input tax credit available.
Question What is input tax?
Answer "input tax" means tax paid or payable by a registered dealer in the course of
business, on the purchase of any goods made from a registered dealer
Question What is output tax?
Answer "out put tax" means the tax charged or chargeable under this Act by a
registered dealer in respect of the sale of goods in the course of his business
Question What is reverse tax?
Answer "reverse tax" means that part of the input tax for which credit has been availed
in contravention of the provisions of section 18
18. Input Tax Credit.- (1) Input tax credit shall be allowed, to registered
dealers, other than the dealers covered by sub-section (2) of section 3 or
section 5, in respect of purchase of any taxable goods made within the State
from a registered dealer to the extent and in such manner as may be
prescribed, for the purpose of –
(a) sale within the State of Rajasthan; or
(b) sale in the course of Inter-state trade and commerce; or
(c) sale in the course of export outside the territory of India;or
(d) being used as packing material of goods, other than exempted goods, for sale; or
(e) being used as raw material in the manufacture of goods other than
exempted goods, for sale within the State or in the course of Inter-state trade
or commerce; or
(f) being used as raw material in the manufacture of goods for sale in the
course of export outside the territory of India; or
(g) being used in the State as capital goods;
however, if the goods purchased are used partly for the purposes specified in
this sub-section and partly as otherwise, input tax credit shall be allowed
proportionate to the extent they are used for the purposes specified in this
sub-section.Category: LIABILITY TO TAX
Question Who is liable to pay tax under the proposed VAT Act?
Answer Every Manufacturer of goods having annual turnover exceeding rupees 2 lakhs
Importer of goods (i.e. dealer who brings goods into the State) Dealer having an
annual turnover above rupees five lakhs Dealer registered under CST Act Any
person having occasional transactions in notified goods Any person other than a
casual trader and a registered dealer carrying on business temporarily for less
than 120 days are liable to pay tax.
Question What is the VAT rate structure?
Answer The VAT Rates are: 1% - gold, silver, precious metals, gems & precious stones ,
4% - essential goods & primary raw materials, 12.5% on goods not covered in
any schedule & 20% or more on
Question What is the VAT rate levied on?
Answer The applicable VAT rate is generally levied on the taxable turnover of the dealer.
However, the State Government has the power to notify certain goods in respect
of which the tax payable shall be based on the weight, volume measurement or
unit of goods sold.
Question Is there any composition scheme for small dealers?
Answer Yes. Dealers (other than manufacturers and importers) whose turnover does not
exceed rupees fifty laks and purchases goods from a registered dealer may opt
for payment of tax on its turnover at such rates as may be notified by the State
Govt.
Question Are there any goods, which are exempt from tax under VAT?
Answer Goods specified in the schedule-I of VAT Act. are exempt for tax.
Question Is there any tax on purchase and sale of livestock under VAT regime?
Answer Sale or purchase of live-stock are exempt from tax as per schedule I of the VAT
Act.
Question Under what circumstances is purchase tax payable?
Answer Purchase tax is payable when a dealer purchases goods other than exempt goods
in the circumstances where no tax is payable on their sale price at the time of
such purchase and the dealer disposes of these goods for a purpose other than the
following: n Sale within the State of Rajasthan and Sale in the course of inter
state trade or commerce n Export out of India n Use as packing material of goods
other than exempted goods for sale n Use as raw material or processing material
in manufacture of goods other than exempted goods, for sale in the State or CST
sale or export out of India n Use as raw material in manufacture of goods for
export out of India n Use in the State of Rajasthan as capital goods.Category: REGISTRATION
Question Who is required to be registered under the VAT Act?
Answer Every n Manufacturer of goods having annual turnover exceeding Rs. 2 lakhs; n
Importer of goods (i.e. dealer who brings goods into the State from outside the
State); n Dealer having an annual turnover above rupees five lakhs; n Dealer
registered under CST Act;
Question Whether existing registered dealers would require fresh registration?
Answer Where a dealer is registered under the repealed Act he shall be deemed to have
been registered under this Act from the date of commencement of this Act,
provided he has submitted such information as has been required by the
Commissioner under the repealed Act by notification in the Official Gazette.
Question Is there a provision for voluntary registration?
Answer Yes. Dealers who intend to commence or who have commenced a business may
apply for voluntary registration.
Question A person does not have regular business in a specific commodity but
undertakes occasional transactions. Is he required to register?
Answer A casual trader has been defined under the Act to mean a person who has
occasional transactions of business nature whether as principal, agent or in any
other capacity in respect of such goods as the government may notify. Such a
person shall also be liable to pay tax at the applicable rate irrespective of its
turnover. However, it would not be necessary for such a person to get himself
registered
Question How can a dealer obtain registration?
Answer (i) A dealer can obtain registration under VAT by making an
application in the prescribed form along with the prescribed
documents with the authority competent to grant registration
having territorial jurisdiction over the principal place of
business.
Question What information is required to be submitted along with the registration
application?
Answer Information generally required to be submitted along with the registration
application would include: The application for registration shall
accompany,-
(ii) Declaration of business manager in Form VAT-02;
(iii) Copy, of partnership deed, if any, memorandum and
articles of association of a company, constitution
deed of trust, association of persons or body of
individuals, certified by the applicant;
(iv) Copy of resolution passed by Board of Directors, in
case of a company and of governing body, in case of
other entities, for authorisation of a person to file the
application for registration certified by the applicant;
(v) Security required to be furnished as per section 15 of
the Act in such form as prescribed in rule 78.
(vi) Signed photo duly attested by a gazetted officer ornotary public of following:-
a) Proprietor, in case of Proprietorship concern;
b) Every Partner, in case of Partnership firm;
c) Managing Director / Director or authorized signatory,
in case of a Company;
d) Karta, in case of Hindu Undivided Family; and
e) Authorised Signatory, in all other cases.
(vii) Copy of voter identification card or passport or Permanent
Account Number or driving license.
(viii) Copy of rent deed or rent receipt or electricity bill or
telephone bill or water bill or own property documents,
in support of address proof.
Question What is the time period within which a dealer is required to get himself
registered?
Answer A dealer is required to get himself registered within 30 days from the date he
becomes liable to pay tax under the VAT Act.
Question What happens if a person liable to register does not get himself registered?
Answer The Act provides penalty of a sum not excluding rupees rupees one thousand for
dealers who fail to register within the prescribed time and in the prescribed
manner.
Question What are the provisions relating to security to be filed at the time of
registration?
Answer The Act requires to furnish security at the time of registration. A dealer would
have to furnish initial security at the time of registration in form of surety of two
dealers registered under the Act. If he is not able to furnish such surety, he would
have to furnish the following security: - Rs.10,000 in case of a small scale
manufacturing unit, Rs. 15,000 for medium scale manufacturing unit and Rs.
25,000 for large scale manufacturing unit; and - Rs. 10,000 in cases that are not
covered in the categories mentioned above For voluntary registrants, security
requirement is for Rs 10,000 in the form of NSC, cash or three years bank
guarantee.
Question Whether existing security would continue or new security required from
VAT registrants?
Answer No. New security would not be required to be furnished by existing registrants.
Question When is additional security required to be furnished?
Answer Additional security is required to be furnished in such cases where the assessing
authority has reason to believe that such increase in security is required
Question Whether separate registration is required for additional places of business
within the State?
Answer No separate registration is required for additional places of business within the
State. However, a separate branch certificate under the existing registration
number will be granted for each additional place of business within the State.
The present system of additional registration will no longer prevail.
Question What will happen to the existing registrations for the additional places of
business?Answer Such dealer shall have to inform his assessing authority or authority competent
to grant registration within 60 days from the commencement of the act.
declaration of principal place of business, otherwise the Commissioner or any
officer authorized by him for this purpose, shall declare one such registration to
be the registration under this Act and shall issue branch certificate in lieu of
remaining registration certificates.
Question Whether provision regarding provisional registration in case of intending
manufacturer will continue?
Answer No such provision will exist under the new VAT Act.
Question In case of change in the Constitution of Business like status, name, place of
business, etc at the time of registration, what action is required to be taken
and when?
Answer In case of any change in the information submitted at the time of obtaining
registration, an application in the prescribed from along with the necessary proof
of such change is required to be filed with the jurisdictional authority competent
to grant registration within 30 days of such change. On submission of such
information the said authority shall amend the certificate of registration.
However, when there is a change in the basic status of a dealer such as
conversion of proprietary concern to partnership firm or vice-versa, dissolution
of the firm, creation of a new firm, conversion of firm into company or viceversa, a fresh certificate of registration has to be obtained
Question In what circumstances will the certificate of registration be cancelled?
Answer The certificate of registration would be liable to be cancelled in the following,
where: n any business in respect of which a certificate of registration has been
granted to a dealer under this Act, is discontinued permanently; or n in the case
of transfer of business by a dealer, the transferee already holds a certificate of
registration under this Act; or n a dealer has ceased to be required to be
registered and to pay tax under this Act; or n a dealer has obtained the certificate
of registration by misrepresentation of facts or by fraud; or n a dealer has
obtained a certificate of registration against the provisions of this Act; or n a
dealer has failed to furnish security within the period specified and a period of
ninety days has elapsed ; or n a dealer issues false or forged VAT invoices
However, an opportunity of being heard shall be given to the dealer before such
cancellation
Question Whether Commissioner has an authority to cancel registration?
Answer Yes. In interest of revenue, Commissioner can cancel the registration.Category: PAYMENT OF TAX AND FILING OF RETURNS
Question What is the net tax payable by a dealer?
Answer
The net tax payable by a dealer for a tax period shall be calculated as under:-
T = (O+R+P) – I
Where –
T is net tax payable;
O is amount of output tax ;
R is amount of reverse tax;
P is the amount of tax payable under sub-section (2) of section 4; and
I is the amount of input tax.
Illustrative example:
Sale Value Purchase
Price
Output tax
(@10%)
Input tax
credit
(@10%)
Tax payable
Rs. 100,000 Rs.70,000 Rs. 10,000 Rs.7,000 Rs. 3,000
Question Under what circumstances will input tax credit be available under VAT?
Answer Input tax credit shall be allowed, to registered dealers, other than the dealers
covered by sub-section (2) of section 3 or section 5, in respect of purchase of
any taxable goods made within the State from a registered dealer to the extent
and in such manner as may be prescribed, for the purpose of –
(a) sale within the State of Rajasthan; or
(b) sale in the course of Inter-state trade and commerce; or
(c) sale in the course of export outside the territory of India;or
(d) being used as packing material of goods, other than exempted goods, for
sale; or
(e) being used as raw material in the manufacture of goods other than
exempted goods, for sale within the State or in the course of Inter-state trade
or commerce; or
(f) being used as raw material in the manufacture of goods for sale in the course of export outside the territory of India; or
(g) being used in the State as capital goods;
however, if the goods purchased are used partly for the purposes specified in
this sub-section and partly as otherwise, input tax credit shall be allowed
proportionate to the extent they are used for the purposes specified in this subsection.
Question Under what circumstances will input tax credit not be available under
VAT?
Answer no input tax credit shall be allowed on the purchases.
(i) from a registered dealer who is liable to pay tax under sub-section (2) of
section 3 or who has opted to pay tax under section 5 of this Act; or
(ii) of goods made in the course of import from outside the State; or
(iii) where the original VAT invoice or duplicate copy thereof is not available
with the claimant, or there is evidence that the same has not been issued by
the selling registered dealer from whom the goods are purported to have been
purchased; or
(iv) of goods where invoice does not show the amount of tax separately; or
(v) where the purchasing dealer fails to prove the genuineness of the purchase
transaction by producing the selling dealer or otherwise, on being asked to do
so by an officer not below the rank of Assistant Commercial Taxes Officer
authorised by the Commissioner
Question Whether input tax credit is allowed on exempted sales?
Answer No input tax credit is allowed on exempted sales.
Question Whether credit of tax paid on purchase would be allowed as set off against
inter-state sales?
Answer Yes, set off is available against the liability arising under CST Act
Question Whether input tax credit would be available as set off against branch
transfers?
Answer Generally, no such set off shall be allowed. However, partial credit as may be
notified shall be allowed in case of tax paid on purchases for branch transfer, if
the State Government deems fit.
Question When would the input tax credit be available and what proof is required to
claim input tax?
Answer Input tax credit can be claimed in the period in which the dealer receives the
original VAT invoice. However, no credit would be available after 3 months
from the date of such invoice. Moreover, in case where original VAT invoice is
lost, input tax credit may be allowed on the basis of duplicate copy of VAT
invoice.
Question What is VAT invoice?
Answer VAT invoice means an invoice issued by a registered dealer other than a dealer
paying lump sum tax containing certain specific particulars such as: • Pre -printed serially numbered running for the whole financial year beginning from
1st April of each year or the accounting year, if any other period is permitted •
The words ‘VAT Invoice’ in a prominent place; • Name and address of the
Selling Dealer • TIN of the Selling Dealer • Name, address and TIN (if
registered) of the Purchaser • Name, address and TIN (if registered) of the
Consignee, if Purchaser is not the consignee • Marking of copies,
Original/Duplicate/Triplicate, as the case may be • Description, quantity, volume
and value of goods • VAT Rate and the amount of VAT; • Signature of dealer or
his/ her declared business manager.
Question How input tax credit would be available on closing stocks on the date of
commencement of VAT Act if the goods are:
Answer (a) Tax paid goods Input Tax credit shall be allowed on the goods other than
capital goods, provided that the dealer has submitted the details of such stock as
required by the Commissioner. (b) Exempted goods No credit shall be allowed
even if the goods were taxable at the time of purchase or exempt in VAT. (c)
Incentive scheme purchased goods Credit would be granted only to the extent the
incentive unit has charged tax. (d) Sales returns after 01.04.2006 If such sales
returns have been made within the time prescribed. (e) Purchases from dealers
paying lumpsum tax No set-off as such selling dealers would not be entitled to
charge tax. (f) CST paid purchase No set-off as the tax has been paid in other
State and not in our State. (g) Imported goods No input tax credit (h) Stock of
adhat goods Set-off would be granted to the Principal who has the original
invoice in his name. Agent cannot get set-off in such cases, as he is not the
owner of the goods.
Question Whether furnishing of stock statement is mandatory?
Answer Yes, otherwise no input tax credit would be permitted
Question Explain treatment of tax paid on purchase of capital goods:
Answer No credit shall be available, in respect of tax paid on goods purchased prior to 31
March 2006. Full credit of tax paid on purchase of capital goods purchased after
31 March 2006, shall be allowed in equal installments over a period of 3 years
provided such capital goods fall within the definition as given under the
proposed VAT Act and are used for specified purposes.
Question What is the difference between zero-rated and exempted goods?
Answer In case of exemption no set-off of the input tax would be granted. Whereas, in
case of zero-rating it is treated as a case that the goods are taxable but the rate of
tax is zero, therefore, being taxable goods, input tax credit would be granted.
Therefore the total input tax credit will be refunded e.g. in case of an exporter,
exports would be zero rated.
Question How would tax be levied on works contract / lease in VAT regime?
Answer These transactions would be taxed as normal sale transactions
Question How would tax be levied on hire purchase transactions?
Answer As applicable on normal transaction on the date of delivery of the goods.
Question Would existing incentive / deferment granted to the industries continue and
how input tax credit would be granted?
Answer As per the consensus of the Empowered Committee of the State Finance
Ministers, it is proposed to convert all incentive schemes to deferment. The terms Ministers, it is proposed to convert all incentive schemes to deferment. The terms
and conditions of such scheme would be notified.
Question What would be the proposed time frame for payment of tax by a dealer?
Answer The proposed time frame for payment of tax by a dealer is as under:
Column No. 1 Column No. 2
(a) Dealers with annual gross
turnover of rupees ten crore
and above in the year
proceding to the current year.
(a) By 20th day of the
month in respect of tax
charged or collected up to
15th day of the month and
for the tax charged or
collected from 16th day of
the month to the end of the
month, shall be deposited
within seven days from the
close of the month.
(b) Dealers whose annual gross
turnover was less than rupees
ten crores.
(b) Monthly- within
fourteen days from the
close of each month
(c) Dealers who had obtained
new registration.
(c) Monthly- within
fourteen days from the
close of each month
(d) Dealers dealing in all kinds
of stone in all their forms,
whether used as building
material or otherwise, including
marble, granite etc
(d) Immediately on
completion of
transaction of sale or
purchase where such
goods pass through
check post established
under section 76 of the
Act or otherwise.
(e). Dealers not covered by
clauses (a), (b), (c) and (d)
above
(e). Quarterly - within
fourteen days from the
close of each quarter
Question Is a dealer required to file returns under VAT and at what intervals?
Answer Yes, a dealer is required to file quarterly returns in the prescribed form within 30
days of the close of each quarter i.e. a period of three months ending on 30th
June, 30 September, 31st December and 31st March.
Question What information is required to be accompanied along with the returns?
Answer The return to be filed by a registered dealer shall be accompanied
with: The return required to be filed, under sub-rule (1), by a
registered dealer shall accompany.-
(a) treasury receipt(s) / bank challan(s) of authorised bank as a
proof of deposit of tax in accordance with section 20 of the Act;
(b) declaration forms / certificates/ forms required under therules or the notification issued by the State Government;
(c) statement of purchases against VAT Invoices shall be in
Form VAT –07;
(d) copy of statement of import against declaration, in Form
VAT-48,
(e) statement of sales to registered dealers who may claim input
tax credit, other than those who exercise option under subsection (2) of section 3 or under section 5, in Form VAT– 09;
(f) statement of inter-State sales against declaration, in Form
VAT-50;
(g) copy of sales return register in Form VAT-12, if applicable;
(h) proof of export as specified in rule 29, if applicable; and
(i) account of declaration forms along with details of use,
and shall be signed and verified by the dealer himself or his
business manager. If any of the above requirements are not
met with, it shall be deemed to be a case of non-filing of return.
.
Question Who shall sign the return?
Answer The return shall be signed and verified by the dealer himself or his declared
business manager.
Question What are the consequences for non-payment of tax?
Answer Non-payment of tax would attract interest at such rate as may be notified and
penalty up to 2 times the amount of tax evaded.
Question What are the consequences of non-filing of returns?
Answer Any dealer who without reasonable cause, fails to furnish prescribed returns
within the time allowed, shall be liable to pay by way of penalty: (i) in case the
dealer is required to pay tax every month, a sum equal to Rs. 10 per day for the
period during which the default in furnishing such return continues, but not
exceeding in aggregate 20% of the tax so assessed. (ii) in all other cases, a sum
equal to Rs. 5 per day subject to a maximum limit of Rs. 500 , for the period
during which the default in furnishing of such return continued. Category: ASSESSMENT and AUDIT
Question Is there a procedure for the assessment of the returns filed by the dealer?
Answer The Act introduces the concept self-assessment for all returns filed by dealers.
Accordingly, all dealers shall be deemed to have been assessed on the basis of
returns filed. However, all returns filed shall be verified for correctness and in
case any error is detected a revised return would have to be filed by the dealer.
On timely filing of such revised return the dealer shall be deemed to have been
assessed on the basis of such revised return.
Question Under what circumstances would refund be granted and when?
Answer When the net tax payable by a dealer is negative, he would be allowed to adjust
the same against tax payable or outstanding CST liability and the balance if any,
shall be carried forward to the next tax period or periods of the year and refund
of the remaining amount shall be granted only after the end of the immediately
succeeding year. However, in case exporters the refund shall be granted within a
period of thirty days of the filing of the application for refund
Question What is audit?
Answer In view of the incorporation of self-assessment procedures and for promoting
compliance, the concept of audit has been introduced in the Act. Based on
certain pre decided criteria as well as random selection, cases will selected for
audit.Category: MAINTENANCE OF RECORDS
Question What accounts are to be maintained by a dealer under VAT?
Answer Every dealer is required to maintain an account of his business activities
including value and quantity of goods received, manufactured, sold or otherwise
disposed of or held in stock. Further a manufacturer has to additionally maintain
a stock book of raw materials used and finished goods produced.
Question Where are the accounts to be kept?
Answer The accounts are required to be kept at the places of business as mentioned in the
certificate of registration. In case of manufacturer, stock records have to be
maintained at the place where manufacturing activity is carried on. In case of
branches, accounts, registers and documents relating to the activities of the
branch should be kept at the respective branch. However, final accounts, annual
statements, registers and documents shall be kept at the principal place of
business.
Question Are the accounts of a VAT dealer required to be audited?
Answer A VAT dealer is required to get his accounts audited by a Chartered Accountant
if his annual turnover exceeds rupees forty lakhs. The report of such audit is
required filed within the prescribed time.
Question What is the penalty for not filing the audit report?
Answer Non-filing of the audit report would attract penalty of 1/10th percent of the
dealer’s total turnover or Rs.1,00,000 whichever is less.Category: RECTIFICATION OF MISTAKE
Question In which cases can an application for rectification by made?
Answer Application for rectification can be made when the mistake is apparent from the
record. It includes an order which was valid when it was made but is
subsequently rendered invalid by an amendment of the law having retrospective
effect or by a judgement of the Supreme Court, the Rajasthan High Court or the
Rajasthan Tax Board.
Question What is the time period within which the concerned authority needs to
decide the case after filing of the form?
Answer The concerned authority needs to decide the case within one year of the date of
filing of the form. In case the authority does not decide the case within this time
period, then the application will be deemed to have been accepted.
Question Can the rectification happen suo-moto by the concerned authority?
Answer Rectification can be conducted suo-moto by the concerned authority within a
period of four years from the date of the order sought to be rectified.Category: DETERMINATION OF DISPUTED QUESITONS
Question
In which cases can an application for determination of disputed questions be
made?
Answer An application for determination of disputed questions can be made in respect of
whether: n any person is a dealer; or n any particular dealer is required to be
registered; or n any transaction is a sale, and if so the sale price thereof; or n any
tax is payable in respect of any particular sale or purchase or if tax is payable, the
point and the rate thereof; or n any particular thing done to any goods amounts to
or results in the manufacture of goods; or n any dealer is entitled to any
particular amount of input tax credit;
Question Can a question that has arisen in court proceedings be asked?
Answer No, a question that has arisen in proceedings before a court cannot be asked.
Question
Can a question that arises from an order already passed under the Rajasthan
VAT Act, 2003 be asked?
Answer No, such a question cannot be asked. However, such a question can be raised in
appeal against the said order or in application for revision of the said order.Category: APPEAL TO APPELLATE AUTHORITY
Question What is the time period within which an appeal is required to be filed?
Answer The appeal needs to be filed within sixty days of the date of the order sought to
be appealed against. In case the appeal is filed late then application for
condonation of delay needs to be filed.
Question Is the non-disputed tax, interest and penalty required to be paid?
Answer Yes, the non-disputed amount is required to be paid before you file an appeal.
The bank challan needs to be attached to the appeal form as proof of payment.
Question What is the requirement with respect to the disputed tax, interest and
penalty?
Answer In case of appeal against an ex-parte assessment, you need to pay 5% of the
disputed amount. In other cases, you need to pay 10% of the disputed amount.
Please attach the bank challan to the appeal form as proof of payment. For the
remaining disputed amount, you can either pay it or get a stay against its
recovery. In case of latter, you need to file application for stay of recovery of
disputed amount.
Question When can an appeal be filed?
Answer An appeal can be filed against any order of an Assistant Commissioner, a
Commercial Tax Officer, an Assistant Commercial Tax Officer, a Junior Tax
Officer or Incharge of a check-post or barrier.
FAQ
Category: GENERAL
Question What is VAT
Answer VAT is a simplified and transparent system of tax in which tax is levied on the
value additions, at each stage in the production-distribution with provision of
set-off of tax paid on earlier stage.
Question What taxes will VAT replace?
Answer It will replace RST Surcharge and Turnover Tax.
Question How VAT differs from Sales Tax?
Answer Sales tax is single point levy as against multiple point levy under VAT with set
off provisions being available for tax paid at earlier stage. Thus, in sales tax no
tax is being levied on the value additions on subsequent sales
Question How does VAT work?
Answer Under VAT tax is paid at each stage of Sale, the value addition is taxed and setoff of the tax paid in the State at the earlier stage (input tax) is granted against
subsequent sales (output tax). Thus VAT eliminates tax cascading.
Question How is the tax liability of a dealer calculated under VAT?
Answer The net tax payable by a VAT dealer under the VAT Act would be equivalent to
the total of the output tax, purchase tax and reverse tax after reducing there from,
the amount of input tax credit available.
Question What is input tax?
Answer "input tax" means tax paid or payable by a registered dealer in the course of
business, on the purchase of any goods made from a registered dealer
Question What is output tax?
Answer "out put tax" means the tax charged or chargeable under this Act by a
registered dealer in respect of the sale of goods in the course of his business
Question What is reverse tax?
Answer "reverse tax" means that part of the input tax for which credit has been availed
in contravention of the provisions of section 18
18. Input Tax Credit.- (1) Input tax credit shall be allowed, to registered
dealers, other than the dealers covered by sub-section (2) of section 3 or
section 5, in respect of purchase of any taxable goods made within the State
from a registered dealer to the extent and in such manner as may be
prescribed, for the purpose of –
(a) sale within the State of Rajasthan; or
(b) sale in the course of Inter-state trade and commerce; or
(c) sale in the course of export outside the territory of India;or
(d) being used as packing material of goods, other than exempted goods, for sale; or
(e) being used as raw material in the manufacture of goods other than
exempted goods, for sale within the State or in the course of Inter-state trade
or commerce; or
(f) being used as raw material in the manufacture of goods for sale in the
course of export outside the territory of India; or
(g) being used in the State as capital goods;
however, if the goods purchased are used partly for the purposes specified in
this sub-section and partly as otherwise, input tax credit shall be allowed
proportionate to the extent they are used for the purposes specified in this
sub-section.Category: LIABILITY TO TAX
Question Who is liable to pay tax under the proposed VAT Act?
Answer Every Manufacturer of goods having annual turnover exceeding rupees 2 lakhs
Importer of goods (i.e. dealer who brings goods into the State) Dealer having an
annual turnover above rupees five lakhs Dealer registered under CST Act Any
person having occasional transactions in notified goods Any person other than a
casual trader and a registered dealer carrying on business temporarily for less
than 120 days are liable to pay tax.
Question What is the VAT rate structure?
Answer The VAT Rates are: 1% - gold, silver, precious metals, gems & precious stones ,
4% - essential goods & primary raw materials, 12.5% on goods not covered in
any schedule & 20% or more on
Question What is the VAT rate levied on?
Answer The applicable VAT rate is generally levied on the taxable turnover of the dealer.
However, the State Government has the power to notify certain goods in respect
of which the tax payable shall be based on the weight, volume measurement or
unit of goods sold.
Question Is there any composition scheme for small dealers?
Answer Yes. Dealers (other than manufacturers and importers) whose turnover does not
exceed rupees fifty laks and purchases goods from a registered dealer may opt
for payment of tax on its turnover at such rates as may be notified by the State
Govt.
Question Are there any goods, which are exempt from tax under VAT?
Answer Goods specified in the schedule-I of VAT Act. are exempt for tax.
Question Is there any tax on purchase and sale of livestock under VAT regime?
Answer Sale or purchase of live-stock are exempt from tax as per schedule I of the VAT
Act.
Question Under what circumstances is purchase tax payable?
Answer Purchase tax is payable when a dealer purchases goods other than exempt goods
in the circumstances where no tax is payable on their sale price at the time of
such purchase and the dealer disposes of these goods for a purpose other than the
following: n Sale within the State of Rajasthan and Sale in the course of inter
state trade or commerce n Export out of India n Use as packing material of goods
other than exempted goods for sale n Use as raw material or processing material
in manufacture of goods other than exempted goods, for sale in the State or CST
sale or export out of India n Use as raw material in manufacture of goods for
export out of India n Use in the State of Rajasthan as capital goods.Category: REGISTRATION
Question Who is required to be registered under the VAT Act?
Answer Every n Manufacturer of goods having annual turnover exceeding Rs. 2 lakhs; n
Importer of goods (i.e. dealer who brings goods into the State from outside the
State); n Dealer having an annual turnover above rupees five lakhs; n Dealer
registered under CST Act;
Question Whether existing registered dealers would require fresh registration?
Answer Where a dealer is registered under the repealed Act he shall be deemed to have
been registered under this Act from the date of commencement of this Act,
provided he has submitted such information as has been required by the
Commissioner under the repealed Act by notification in the Official Gazette.
Question Is there a provision for voluntary registration?
Answer Yes. Dealers who intend to commence or who have commenced a business may
apply for voluntary registration.
Question A person does not have regular business in a specific commodity but
undertakes occasional transactions. Is he required to register?
Answer A casual trader has been defined under the Act to mean a person who has
occasional transactions of business nature whether as principal, agent or in any
other capacity in respect of such goods as the government may notify. Such a
person shall also be liable to pay tax at the applicable rate irrespective of its
turnover. However, it would not be necessary for such a person to get himself
registered
Question How can a dealer obtain registration?
Answer (i) A dealer can obtain registration under VAT by making an
application in the prescribed form along with the prescribed
documents with the authority competent to grant registration
having territorial jurisdiction over the principal place of
business.
Question What information is required to be submitted along with the registration
application?
Answer Information generally required to be submitted along with the registration
application would include: The application for registration shall
accompany,-
(ii) Declaration of business manager in Form VAT-02;
(iii) Copy, of partnership deed, if any, memorandum and
articles of association of a company, constitution
deed of trust, association of persons or body of
individuals, certified by the applicant;
(iv) Copy of resolution passed by Board of Directors, in
case of a company and of governing body, in case of
other entities, for authorisation of a person to file the
application for registration certified by the applicant;
(v) Security required to be furnished as per section 15 of
the Act in such form as prescribed in rule 78.
(vi) Signed photo duly attested by a gazetted officer ornotary public of following:-
a) Proprietor, in case of Proprietorship concern;
b) Every Partner, in case of Partnership firm;
c) Managing Director / Director or authorized signatory,
in case of a Company;
d) Karta, in case of Hindu Undivided Family; and
e) Authorised Signatory, in all other cases.
(vii) Copy of voter identification card or passport or Permanent
Account Number or driving license.
(viii) Copy of rent deed or rent receipt or electricity bill or
telephone bill or water bill or own property documents,
in support of address proof.
Question What is the time period within which a dealer is required to get himself
registered?
Answer A dealer is required to get himself registered within 30 days from the date he
becomes liable to pay tax under the VAT Act.
Question What happens if a person liable to register does not get himself registered?
Answer The Act provides penalty of a sum not excluding rupees rupees one thousand for
dealers who fail to register within the prescribed time and in the prescribed
manner.
Question What are the provisions relating to security to be filed at the time of
registration?
Answer The Act requires to furnish security at the time of registration. A dealer would
have to furnish initial security at the time of registration in form of surety of two
dealers registered under the Act. If he is not able to furnish such surety, he would
have to furnish the following security: - Rs.10,000 in case of a small scale
manufacturing unit, Rs. 15,000 for medium scale manufacturing unit and Rs.
25,000 for large scale manufacturing unit; and - Rs. 10,000 in cases that are not
covered in the categories mentioned above For voluntary registrants, security
requirement is for Rs 10,000 in the form of NSC, cash or three years bank
guarantee.
Question Whether existing security would continue or new security required from
VAT registrants?
Answer No. New security would not be required to be furnished by existing registrants.
Question When is additional security required to be furnished?
Answer Additional security is required to be furnished in such cases where the assessing
authority has reason to believe that such increase in security is required
Question Whether separate registration is required for additional places of business
within the State?
Answer No separate registration is required for additional places of business within the
State. However, a separate branch certificate under the existing registration
number will be granted for each additional place of business within the State.
The present system of additional registration will no longer prevail.
Question What will happen to the existing registrations for the additional places of
business?Answer Such dealer shall have to inform his assessing authority or authority competent
to grant registration within 60 days from the commencement of the act.
declaration of principal place of business, otherwise the Commissioner or any
officer authorized by him for this purpose, shall declare one such registration to
be the registration under this Act and shall issue branch certificate in lieu of
remaining registration certificates.
Question Whether provision regarding provisional registration in case of intending
manufacturer will continue?
Answer No such provision will exist under the new VAT Act.
Question In case of change in the Constitution of Business like status, name, place of
business, etc at the time of registration, what action is required to be taken
and when?
Answer In case of any change in the information submitted at the time of obtaining
registration, an application in the prescribed from along with the necessary proof
of such change is required to be filed with the jurisdictional authority competent
to grant registration within 30 days of such change. On submission of such
information the said authority shall amend the certificate of registration.
However, when there is a change in the basic status of a dealer such as
conversion of proprietary concern to partnership firm or vice-versa, dissolution
of the firm, creation of a new firm, conversion of firm into company or viceversa, a fresh certificate of registration has to be obtained
Question In what circumstances will the certificate of registration be cancelled?
Answer The certificate of registration would be liable to be cancelled in the following,
where: n any business in respect of which a certificate of registration has been
granted to a dealer under this Act, is discontinued permanently; or n in the case
of transfer of business by a dealer, the transferee already holds a certificate of
registration under this Act; or n a dealer has ceased to be required to be
registered and to pay tax under this Act; or n a dealer has obtained the certificate
of registration by misrepresentation of facts or by fraud; or n a dealer has
obtained a certificate of registration against the provisions of this Act; or n a
dealer has failed to furnish security within the period specified and a period of
ninety days has elapsed ; or n a dealer issues false or forged VAT invoices
However, an opportunity of being heard shall be given to the dealer before such
cancellation
Question Whether Commissioner has an authority to cancel registration?
Answer Yes. In interest of revenue, Commissioner can cancel the registration.Category: PAYMENT OF TAX AND FILING OF RETURNS
Question What is the net tax payable by a dealer?
Answer
The net tax payable by a dealer for a tax period shall be calculated as under:-
T = (O+R+P) – I
Where –
T is net tax payable;
O is amount of output tax ;
R is amount of reverse tax;
P is the amount of tax payable under sub-section (2) of section 4; and
I is the amount of input tax.
Illustrative example:
Sale Value Purchase
Price
Output tax
(@10%)
Input tax
credit
(@10%)
Tax payable
Rs. 100,000 Rs.70,000 Rs. 10,000 Rs.7,000 Rs. 3,000
Question Under what circumstances will input tax credit be available under VAT?
Answer Input tax credit shall be allowed, to registered dealers, other than the dealers
covered by sub-section (2) of section 3 or section 5, in respect of purchase of
any taxable goods made within the State from a registered dealer to the extent
and in such manner as may be prescribed, for the purpose of –
(a) sale within the State of Rajasthan; or
(b) sale in the course of Inter-state trade and commerce; or
(c) sale in the course of export outside the territory of India;or
(d) being used as packing material of goods, other than exempted goods, for
sale; or
(e) being used as raw material in the manufacture of goods other than
exempted goods, for sale within the State or in the course of Inter-state trade
or commerce; or
(f) being used as raw material in the manufacture of goods for sale in the course of export outside the territory of India; or
(g) being used in the State as capital goods;
however, if the goods purchased are used partly for the purposes specified in
this sub-section and partly as otherwise, input tax credit shall be allowed
proportionate to the extent they are used for the purposes specified in this subsection.
Question Under what circumstances will input tax credit not be available under
VAT?
Answer no input tax credit shall be allowed on the purchases.
(i) from a registered dealer who is liable to pay tax under sub-section (2) of
section 3 or who has opted to pay tax under section 5 of this Act; or
(ii) of goods made in the course of import from outside the State; or
(iii) where the original VAT invoice or duplicate copy thereof is not available
with the claimant, or there is evidence that the same has not been issued by
the selling registered dealer from whom the goods are purported to have been
purchased; or
(iv) of goods where invoice does not show the amount of tax separately; or
(v) where the purchasing dealer fails to prove the genuineness of the purchase
transaction by producing the selling dealer or otherwise, on being asked to do
so by an officer not below the rank of Assistant Commercial Taxes Officer
authorised by the Commissioner
Question Whether input tax credit is allowed on exempted sales?
Answer No input tax credit is allowed on exempted sales.
Question Whether credit of tax paid on purchase would be allowed as set off against
inter-state sales?
Answer Yes, set off is available against the liability arising under CST Act
Question Whether input tax credit would be available as set off against branch
transfers?
Answer Generally, no such set off shall be allowed. However, partial credit as may be
notified shall be allowed in case of tax paid on purchases for branch transfer, if
the State Government deems fit.
Question When would the input tax credit be available and what proof is required to
claim input tax?
Answer Input tax credit can be claimed in the period in which the dealer receives the
original VAT invoice. However, no credit would be available after 3 months
from the date of such invoice. Moreover, in case where original VAT invoice is
lost, input tax credit may be allowed on the basis of duplicate copy of VAT
invoice.
Question What is VAT invoice?
Answer VAT invoice means an invoice issued by a registered dealer other than a dealer
paying lump sum tax containing certain specific particulars such as: • Pre -printed serially numbered running for the whole financial year beginning from
1st April of each year or the accounting year, if any other period is permitted •
The words ‘VAT Invoice’ in a prominent place; • Name and address of the
Selling Dealer • TIN of the Selling Dealer • Name, address and TIN (if
registered) of the Purchaser • Name, address and TIN (if registered) of the
Consignee, if Purchaser is not the consignee • Marking of copies,
Original/Duplicate/Triplicate, as the case may be • Description, quantity, volume
and value of goods • VAT Rate and the amount of VAT; • Signature of dealer or
his/ her declared business manager.
Question How input tax credit would be available on closing stocks on the date of
commencement of VAT Act if the goods are:
Answer (a) Tax paid goods Input Tax credit shall be allowed on the goods other than
capital goods, provided that the dealer has submitted the details of such stock as
required by the Commissioner. (b) Exempted goods No credit shall be allowed
even if the goods were taxable at the time of purchase or exempt in VAT. (c)
Incentive scheme purchased goods Credit would be granted only to the extent the
incentive unit has charged tax. (d) Sales returns after 01.04.2006 If such sales
returns have been made within the time prescribed. (e) Purchases from dealers
paying lumpsum tax No set-off as such selling dealers would not be entitled to
charge tax. (f) CST paid purchase No set-off as the tax has been paid in other
State and not in our State. (g) Imported goods No input tax credit (h) Stock of
adhat goods Set-off would be granted to the Principal who has the original
invoice in his name. Agent cannot get set-off in such cases, as he is not the
owner of the goods.
Question Whether furnishing of stock statement is mandatory?
Answer Yes, otherwise no input tax credit would be permitted
Question Explain treatment of tax paid on purchase of capital goods:
Answer No credit shall be available, in respect of tax paid on goods purchased prior to 31
March 2006. Full credit of tax paid on purchase of capital goods purchased after
31 March 2006, shall be allowed in equal installments over a period of 3 years
provided such capital goods fall within the definition as given under the
proposed VAT Act and are used for specified purposes.
Question What is the difference between zero-rated and exempted goods?
Answer In case of exemption no set-off of the input tax would be granted. Whereas, in
case of zero-rating it is treated as a case that the goods are taxable but the rate of
tax is zero, therefore, being taxable goods, input tax credit would be granted.
Therefore the total input tax credit will be refunded e.g. in case of an exporter,
exports would be zero rated.
Question How would tax be levied on works contract / lease in VAT regime?
Answer These transactions would be taxed as normal sale transactions
Question How would tax be levied on hire purchase transactions?
Answer As applicable on normal transaction on the date of delivery of the goods.
Question Would existing incentive / deferment granted to the industries continue and
how input tax credit would be granted?
Answer As per the consensus of the Empowered Committee of the State Finance
Ministers, it is proposed to convert all incentive schemes to deferment. The terms Ministers, it is proposed to convert all incentive schemes to deferment. The terms
and conditions of such scheme would be notified.
Question What would be the proposed time frame for payment of tax by a dealer?
Answer The proposed time frame for payment of tax by a dealer is as under:
Column No. 1 Column No. 2
(a) Dealers with annual gross
turnover of rupees ten crore
and above in the year
proceding to the current year.
(a) By 20th day of the
month in respect of tax
charged or collected up to
15th day of the month and
for the tax charged or
collected from 16th day of
the month to the end of the
month, shall be deposited
within seven days from the
close of the month.
(b) Dealers whose annual gross
turnover was less than rupees
ten crores.
(b) Monthly- within
fourteen days from the
close of each month
(c) Dealers who had obtained
new registration.
(c) Monthly- within
fourteen days from the
close of each month
(d) Dealers dealing in all kinds
of stone in all their forms,
whether used as building
material or otherwise, including
marble, granite etc
(d) Immediately on
completion of
transaction of sale or
purchase where such
goods pass through
check post established
under section 76 of the
Act or otherwise.
(e). Dealers not covered by
clauses (a), (b), (c) and (d)
above
(e). Quarterly - within
fourteen days from the
close of each quarter
Question Is a dealer required to file returns under VAT and at what intervals?
Answer Yes, a dealer is required to file quarterly returns in the prescribed form within 30
days of the close of each quarter i.e. a period of three months ending on 30th
June, 30 September, 31st December and 31st March.
Question What information is required to be accompanied along with the returns?
Answer The return to be filed by a registered dealer shall be accompanied
with: The return required to be filed, under sub-rule (1), by a
registered dealer shall accompany.-
(a) treasury receipt(s) / bank challan(s) of authorised bank as a
proof of deposit of tax in accordance with section 20 of the Act;
(b) declaration forms / certificates/ forms required under therules or the notification issued by the State Government;
(c) statement of purchases against VAT Invoices shall be in
Form VAT –07;
(d) copy of statement of import against declaration, in Form
VAT-48,
(e) statement of sales to registered dealers who may claim input
tax credit, other than those who exercise option under subsection (2) of section 3 or under section 5, in Form VAT– 09;
(f) statement of inter-State sales against declaration, in Form
VAT-50;
(g) copy of sales return register in Form VAT-12, if applicable;
(h) proof of export as specified in rule 29, if applicable; and
(i) account of declaration forms along with details of use,
and shall be signed and verified by the dealer himself or his
business manager. If any of the above requirements are not
met with, it shall be deemed to be a case of non-filing of return.
.
Question Who shall sign the return?
Answer The return shall be signed and verified by the dealer himself or his declared
business manager.
Question What are the consequences for non-payment of tax?
Answer Non-payment of tax would attract interest at such rate as may be notified and
penalty up to 2 times the amount of tax evaded.
Question What are the consequences of non-filing of returns?
Answer Any dealer who without reasonable cause, fails to furnish prescribed returns
within the time allowed, shall be liable to pay by way of penalty: (i) in case the
dealer is required to pay tax every month, a sum equal to Rs. 10 per day for the
period during which the default in furnishing such return continues, but not
exceeding in aggregate 20% of the tax so assessed. (ii) in all other cases, a sum
equal to Rs. 5 per day subject to a maximum limit of Rs. 500 , for the period
during which the default in furnishing of such return continued. Category: ASSESSMENT and AUDIT
Question Is there a procedure for the assessment of the returns filed by the dealer?
Answer The Act introduces the concept self-assessment for all returns filed by dealers.
Accordingly, all dealers shall be deemed to have been assessed on the basis of
returns filed. However, all returns filed shall be verified for correctness and in
case any error is detected a revised return would have to be filed by the dealer.
On timely filing of such revised return the dealer shall be deemed to have been
assessed on the basis of such revised return.
Question Under what circumstances would refund be granted and when?
Answer When the net tax payable by a dealer is negative, he would be allowed to adjust
the same against tax payable or outstanding CST liability and the balance if any,
shall be carried forward to the next tax period or periods of the year and refund
of the remaining amount shall be granted only after the end of the immediately
succeeding year. However, in case exporters the refund shall be granted within a
period of thirty days of the filing of the application for refund
Question What is audit?
Answer In view of the incorporation of self-assessment procedures and for promoting
compliance, the concept of audit has been introduced in the Act. Based on
certain pre decided criteria as well as random selection, cases will selected for
audit.Category: MAINTENANCE OF RECORDS
Question What accounts are to be maintained by a dealer under VAT?
Answer Every dealer is required to maintain an account of his business activities
including value and quantity of goods received, manufactured, sold or otherwise
disposed of or held in stock. Further a manufacturer has to additionally maintain
a stock book of raw materials used and finished goods produced.
Question Where are the accounts to be kept?
Answer The accounts are required to be kept at the places of business as mentioned in the
certificate of registration. In case of manufacturer, stock records have to be
maintained at the place where manufacturing activity is carried on. In case of
branches, accounts, registers and documents relating to the activities of the
branch should be kept at the respective branch. However, final accounts, annual
statements, registers and documents shall be kept at the principal place of
business.
Question Are the accounts of a VAT dealer required to be audited?
Answer A VAT dealer is required to get his accounts audited by a Chartered Accountant
if his annual turnover exceeds rupees forty lakhs. The report of such audit is
required filed within the prescribed time.
Question What is the penalty for not filing the audit report?
Answer Non-filing of the audit report would attract penalty of 1/10th percent of the
dealer’s total turnover or Rs.1,00,000 whichever is less.Category: RECTIFICATION OF MISTAKE
Question In which cases can an application for rectification by made?
Answer Application for rectification can be made when the mistake is apparent from the
record. It includes an order which was valid when it was made but is
subsequently rendered invalid by an amendment of the law having retrospective
effect or by a judgement of the Supreme Court, the Rajasthan High Court or the
Rajasthan Tax Board.
Question What is the time period within which the concerned authority needs to
decide the case after filing of the form?
Answer The concerned authority needs to decide the case within one year of the date of
filing of the form. In case the authority does not decide the case within this time
period, then the application will be deemed to have been accepted.
Question Can the rectification happen suo-moto by the concerned authority?
Answer Rectification can be conducted suo-moto by the concerned authority within a
period of four years from the date of the order sought to be rectified.Category: DETERMINATION OF DISPUTED QUESITONS
Question
In which cases can an application for determination of disputed questions be
made?
Answer An application for determination of disputed questions can be made in respect of
whether: n any person is a dealer; or n any particular dealer is required to be
registered; or n any transaction is a sale, and if so the sale price thereof; or n any
tax is payable in respect of any particular sale or purchase or if tax is payable, the
point and the rate thereof; or n any particular thing done to any goods amounts to
or results in the manufacture of goods; or n any dealer is entitled to any
particular amount of input tax credit;
Question Can a question that has arisen in court proceedings be asked?
Answer No, a question that has arisen in proceedings before a court cannot be asked.
Question
Can a question that arises from an order already passed under the Rajasthan
VAT Act, 2003 be asked?
Answer No, such a question cannot be asked. However, such a question can be raised in
appeal against the said order or in application for revision of the said order.Category: APPEAL TO APPELLATE AUTHORITY
Question What is the time period within which an appeal is required to be filed?
Answer The appeal needs to be filed within sixty days of the date of the order sought to
be appealed against. In case the appeal is filed late then application for
condonation of delay needs to be filed.
Question Is the non-disputed tax, interest and penalty required to be paid?
Answer Yes, the non-disputed amount is required to be paid before you file an appeal.
The bank challan needs to be attached to the appeal form as proof of payment.
Question What is the requirement with respect to the disputed tax, interest and
penalty?
Answer In case of appeal against an ex-parte assessment, you need to pay 5% of the
disputed amount. In other cases, you need to pay 10% of the disputed amount.
Please attach the bank challan to the appeal form as proof of payment. For the
remaining disputed amount, you can either pay it or get a stay against its
recovery. In case of latter, you need to file application for stay of recovery of
disputed amount.
Question When can an appeal be filed?
Answer An appeal can be filed against any order of an Assistant Commissioner, a
Commercial Tax Officer, an Assistant Commercial Tax Officer, a Junior Tax
Officer or Incharge of a check-post or barrier.
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