what is the limit of turnover or criteria for the assessee to file monthly vat returns
2 Replies
LAXMIKANT JAIPURKAR
(Practicing Company Secretary/Tax Consultant)
(403 Points)
Replied 19 February 2009
Your annual tax liability should be minimum Rs. 10 crore.
CA. Ashok shah
(CHARTERED ACCOUNTANT)
(333 Points)
Replied 20 February 2009
Dealers having tax paid more than Rs.10 lacs or Refund claim of Rs.1 crore in the previous year, is liable for monthly return.(Rule 17 of MVAT Rules,2005)
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