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Last updated on 25/02/2014.

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  VAT FAQ 


RETURN AND PAYMENT OF TAX

Q.1. How many types of returns are prescribed?
A.1. Three types of returns are prescribed under VAT namely, Monthly, Quarterly and Yearly.
Q.2. Who will file monthly return and quarterly return?
A.2. A dealer who has not opted for lump-sum payment facility will file monthly Return in Form 201, whereas a dealer to whom permission to pay lump sum is granted will file quarterly return in Form 202.
Q.3. Who will file annual return?
A.3. All dealers are required to file yearly return. A dealer filing monthly return is required to file annual return in Form-205 but the dealer filing quarterly return will file annual return in form-202. Annual return should be accompanied with Form 101E.
Q.4. What is the time limit for furnishing return?
A.4. Monthly and Quarterly return has to be furnished within twenty-two days from the end of the tax period. Simply speaking, monthly dealer will be required to file return before 22nd of next month while a quarterly dealer (under composition scheme) will file return before 22nd July, 22nd October, 22nd January or 22nd April as the case may be. Annual return is to be filed within three months from the end of the year.
Q.5. Whether any appendixes would be required to be attached with returns?
A.5. Yes. Following appendixes would be required to be attached with returns:
    With monthly return (Form-201)
  1. Form-201A showing details of tax invoices issued for sales.
  2. Form-201B showing details of tax invoices received for purchases
  3. Form-201C showing details of stock of top ten commodities lying at various places at the end of tax period.
    With quarterly return (Form-202)
  1. Form-202A showing details of tax invoices received for purchases.
    With Yearly return
  1. Form-101E showing details of the business
  2. Annual accounts including trading account, profit and loss account and balance sheet in case of dealer whose turnover is more than rupees one crore in a year. Electronic return filing also is compulsory for such dealers.
Q.6. What is the consequence for not furnishing return?
A.6. Registration certificate can be suspended besides imposition of penalty if a dealer fails to file return.
Q.7. If any error or omission is discovered in the return whether revised return can be furnished and up to what time?
A.7. Revised return can be furnished in the same form, within one month of the period to which the original return relates.
Q.8. What care should be taken while furnishing return?
A.8. The dealer has to ensure that form is filled in properly and completely and figure matches with the books of accounts. It should be accompanied with challan in Form 207, if applicable. Appendixes mentioned in Q-5 are properly, truly and completely filled. Only authorized persons should sign return.
In case of not complying above, it would be presumed that return is not furnished under the Rule.
Q.9. Whether a dealer enjoying sales tax incentives shall have to furnish extra return?
A.9. Yes, a dealer enjoying sales tax incentives shall have to furnish extra return in Form 203 and 204 over and above monthly return in Form-201
Q.10. What is the time limit for payment of tax?
A.10. The dealers dealing in the commodities covered in Schedule III shall pay tax within twelve days whereas others shall pay tax within twenty-two days of the tax period and challan has to accompany return.
Q.11. How tax should be paid?
A.11. Tax shall be paid in Form 207.
Q.12. Where tax shall be paid?
A.12. Tax can be paid either in the Government Treasury or in any of the banks authorized to collect sales tax payment.
Q.13. What is consequence for late/non payment?
A.13. Interest at the rate of 18% per annum shall be levied for the period of delay in payment. Non-payment of tax may invite unpleasant actions viz:
  1. Suspension or cancellation of registration
  2. Third party recovery
  3. Seizer of goods at check post
  4. Proceeding under Land Revenue Code
Q.14. Who has to file a return?
A.14. If you are a registered dealer, you must file a VAT return. If your return shows that tax is due, you must also pay the tax. This is part of your return.
Q.15. Do I need to file a return if there was no business activity in the return period?
A.15. Yes. If, for example, your business is seasonal and there was no activity in the period of the return, you must still file a Nil return.
Q.16. I have several different places of business in Gujarat. Can I file a consolidated returns on all my activities?
A.16. Yes, you have to file a consolidated return however with prior approval of the Commissioner you can file separate returns for each place of business.

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