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Vat annesure

Neeraj P Chourasia (Accountant) (60 Points)

12 June 2012

Can someone clarify the due date for filing of MVAT returns for the period Oct11 to Mar12, if the assesee has come under Tax Audit for the first time in F.Y. 11-12.

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6 Replies

Harshal Fifadra (Chartered Accountant) (1489 Points)
Replied 12 June 2012

If the client's turnover crosses 60 lakhs as per MVAT act then the due date for filing the return for Oct 11-Mach 12 is 21st april 2012

If the client's turnover does not crosses the treshhold limit of 60 lakhs then the due date for filing the return is 30th June 2012 . However the client has to first upload the e-return annexure for the whole year and then upload the return

Ok ....

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Afzal Momin (CA FINAL) (177 Points)
Replied 13 June 2012

Agree with Mr.Harshal...

Sohil (Learner) (631 Points)
Replied 19 June 2012

Doubt regarding annexures. Total 42 lakh rupee worth of purchase done in last financial year.Out of this 30 lakh is including vat and rest is tax free purchase. DO one has to mention tax free purchase in annexure j2?

(Guest)

no....... you should not mention tax free purchases in j2

Sohil (Learner) (631 Points)
Replied 25 June 2012

What does column like gross purchase/sales where taxes are not collected separately means in j1 /j2 annexure. Does it mean detail of tax free product purchased or sale?

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Harshal Fifadra (Chartered Accountant) (1489 Points)
Replied 26 June 2012

It means those values where the sale made to the customers is at a value which is inclusive of vat .. the vat is calculated by adopting the reverse calculation method .. in other words it means that the vat amount is not separately shown in the tax invoice suppose total value collected from customers is 100 so to calculate vat @ 5%is done by reverse calculation i.e 100*5/105 ok .....

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