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Meaning of kvat

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08 December 2008 Sir,

What is kvat 240? is it filed annually?

10 December 2008 VAT 240 under KVAT is an Audit report under VAT Rules to be filed with in 9 months from the end of relevant financial year. The same has to be filed compulsorily. If not there is a penalty which is effective from 2008-09.


15 December 2008 Sir,

Is it compulsory if there is no sales in the company, as our company was funded by our parent company. Pls answer my question


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