Hi Friends
Please help me,
Whats is the periodicity for dealer who has taken a new tin no.?
Whats the criteria to file mvat return??
If i took my new VAT TIN No. on January 2010??
2 Replies
sanjay
(tax consultant)
(53 Points)
Replied 15 April 2010
you should fille firs return for the period of jan-10 to march-10
CA Pankaj Warke
(Fin Man)
(268 Points)
Replied 15 April 2010
Under the MVAT Act, for the first year of registration, the dealer has to file Six monthly returns.
In your case, as the registration is in the month of Jan10, it will be liable for the half yearly return (1st Oct 09 to 31st Mar 10) though the transactions will contain for the period after the registration (considering that you dont have any prior activities).
In the subsequent year, the periodicity will depend on the criteria as given in the Act. i.e. if the VAT paid in cash in 2009-2010-
1. is less that Rs. 1 lakh - Half yearly Return
2. is > Rs.1 Lakh but < Rs. 10 lakh - Quarterly return
2. is > Rs.10 - Monthly return
Recent Topics
- Section 194 J Technical Service/Professional Servi
- Solving of Export Related Problems
- Need your valueble insight.
- Softex For freelancer ?
- GST ON REIUMBURSEMENT ENTRY ON GST PORTAL
- Missing invoice in gst
- GST on consultancy
- Linking adhaar to UAN without employer
- WHETHER ITC REVERSAL TH. GSTR 3B OR DRC03
- Advance Tax For Freelancers
Related Threads
CAclubindia
