At the year of registration under Delhi VAT, by default returns will go quarterly. At the end of the year we'll have to see the turnover achieved to determine frequency of returns that will be applicable from the year on based on turnover as follows:
Upto Rs.10 lacs - Yearly
10 lacs to 50 lacs - Half Yearly
50 lacs to 5 crores - Quarterly
Above Rs.5 crores - Monthly
DVAT-55 for change of periodicity of return is to be filed if change is to be made which is to be filed in the immediate circumstances within 15 days of the end of the year for the business which happens to be 15th of April usually for large no. of concerns.
Clarify if which of these procedures are uniform throughout India and which are specific to DVAT?
CAclubindia
