Shall "NIL"vat return need to be filled when no transaction pertaining to vat has been made during the year. If possible support your answer with notification , circular or section.
Thanks in advance.
Chirag Gogri (Ca) (76 Points)
26 December 2009Shall "NIL"vat return need to be filled when no transaction pertaining to vat has been made during the year. If possible support your answer with notification , circular or section.
Thanks in advance.
CA Dhiraj Ramchandani
(CA, M. com)
(10823 Points)
Replied 26 December 2009
Ofcoarse man, for regular disclosure purpose and continuity..., a nil return too has to be filled...
V RAGHAVENDRA
(C.A. Final Student)
(62 Points)
Replied 26 December 2009
Yes... Even , if there are no transactions , NIL VAT return is to be filed.
But, it is to be noted that , if u make a delay in filing the NIL return , there is NO PENALTY ....
So , for regular disclosure , filing of return is a must !!
Rajan Pasrija
(ACCOUNTANT)
(53 Points)
Replied 27 December 2009
I M TOTALLY AGREE WITH BOTH OF THEM
iF there is no Transactions, you have to file Nil Vat Return regular disclosure.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
