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Due date of payment of vat/cst

Deepak sharma (Learner) (1431 Points)

28 April 2012

Hi Seniors / Friends

Under DVAT A/c. What is the due date of Deposit of Tax for the Dealer who file Half yearly & Yearly VAT Returns.

If Possible Kindly refer the Notification

Thanks

Deepak Sharma

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You are required to file a DVAT Return in Form DVAT-16 within 28 days from the end of your tax period, along with proof of payment, in Form DVAT-20, of the amount due. Even if you have no refund or tax payable, you should still file your returns.

Interest is computed from the date of the default until the outstanding amount is paid. It is computed on a daily basis, applying the prescribed annual interest rate.

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Deepak sharma (Learner) (1431 Points)
Replied 30 April 2012

Dear Ajeet,

Thanks for ur reply

I know that we have to file DVAT 16 within 28 days after payment of VAT for Quarterly Dealer, for them date of payment of VAT reduced from 28 days to 21 days after period ending.

But i want to know about the Half yearly / Yearly deler. Is periodicity of Payment of Tax also same as above for them.

Kindly help

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M.K.AGGARWAL (TAX CONSULTANTS) (232 Points)
Replied 04 May 2012

Yes,Mr,Deepak Sharma,Payment period is the same for all the dealers-Monthly,qtrly,half-yearly or yearly.It is 21 days after ending the month as well as qtr.for ref,please the www.dvat.gov.in

1 Like

Deepak sharma (Learner) (1431 Points)
Replied 05 May 2012

Thankyou ! Mr Aggarwal Little more clarification please Dealer Half Yearly / Yearly are liable to Deposit VAT / CST Quarterly basis . correct ?

thanks in advance

regards Deepak

Pradeep Kumar Banduni (Commercial) (190 Points)
Replied 05 May 2012

Dear Deepak,

Find below given notification: last date of deposit tax is 21st of the subsquent month & rest below given:

NOTIFICATION No. No.F.3(27)/Fin(Rev-I)/2011-12/As/353 Dated 25th April, 2012

In exercise of the powers conferred by section 102 of the Delhi Value Added Tax Act, 2004 (Delhi Act 3 of 2005), the LT. Governor of the National Capital Territory of Delhi, hereby makes the following rules further to amend the Delhi Value Added Tax Rules. 2005. namely:-

RULES

1 Short title and commencement-

(1) These rules may be called the Delhi Value Added Tax (Second Amendment) Rules, 2012.

(2) They shall come into force on the date of their publication in the Delhi Gazette

2. Amendment of rule 26,-

in the Delhi Value Added Tax Rules, 2005 (hereinafter referred to as the principal Rules) in rule 26,-

(i) In sub-rule (1), for clauses (a), (b). (c) and (d), the following shall be substituted, namely:-

(a) is at or below five crore rupees, shall be e quarter,

(b) exceeds five crore rupees, shall be one month:";

(ii) in sub-rule (1), in the third proviso, for the words 'of one month or a quarter or six months or one year" the words 'other than the applicable tax period" shall be substituted: and

(iii) for tub-rule (3), the following shall be substituted, namely:-

"(3) A dealer to whom clause (a) of sub rule (1) applies, can opt the tax period of one month and the option so exercised by him during a particular year by furnishing an intimation in accordance with sub-rule (4) of this rule, shall not be changed during that year.".

Thanks

Pradeep Kumar Banduni

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M.K.AGGARWAL (TAX CONSULTANTS) (232 Points)
Replied 06 May 2012

Yes,Mr.Deepak Sharma, all taxes( DVAT OR CST)dep.before 21 days of the ending of qtr.for all dealers qtrly,half-yearly or yearly return filer.(periodicity of the tax deposit is the same)