Basis for depositing vat and its retun
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 April 2012
In ome cases we deposit vat (sales tax) on monthly basis and in some cases on quarterly basis and same with the return of vat. On which condition we do this
29 April 2012
VAT:
If the tax liability in the PY was
TL > 10L Return is to be filed on a monthly basis
TL less than or equal to 10L but greater than 1L Qtrly
TL <= 1L Six monthly
If the tax liability in the PY was
TL > 10L Return is to be filed on a monthly basis
TL less than or equal to 10L but greater than 1L Qtrly
TL <= 1L Six monthly
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 April 2012
Thanks for the reply, but what about payment vat, when it is payable on monthly and when quarterly,
01 May 2012
The previous year liability is applicable for Both VAT and CST payment.
So both depends on PY libility
So both depends on PY libility
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