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VAT-240 (VAT)

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This query is : Resolved

Author : Anonymous

( Author )
07 January 2010

Dear Sir/Madam,

I would like to know,what is the turn over to be cross for filing of form -240. Is that turn over should be exclusively VAT Sales or it includes CST Sales also?

Please clarify me on this issue, because different people gives different of opinion ie., some clause of people saying it is inclusive of CST sales and other clause of people says it is exclusive of CST,Exempted and Export Sales.


KRISHNA KUMAR R C

( Expert )
07 January 2010

As per KArnataka VAT Act, if taxable turnover under tha act has crossed Rs.40 Lacs then VAT 240 has to be obtained and filed before 31st December in case of FY 2008-2009 and from FY 2009-2010 it is total turnover including Exempt sales and CST sales.


Author : Anonymous

( Author )
07 January 2010

Dear Mr.Krishna Kumar,

For the FY2008-09, Our company VAT Sale is Rs. 30,00,000/-.As per your reply We do not file Form-240 under the KVAT Act.

Please Reply.

Thanking you,

Warm Regards,
Kempraj


Pawan Periwal

( Expert )
07 January 2010

thats correct


Author : Anonymous

( Author )
07 January 2010

Dear Sir,

Please provide me if any notification no. for the same for my further reference, or else just tell me their is any amendments in taxable turn over between FY 2008-09 and 2009-10 under the KVAT.

Even I referred current act for the same, It includes all kind of sales ie., Export sales, CST Sales,VAT Sales and Exempted Sales.

Kindly revert me back and help me out on this issue.


Thanking you,

Warm Regards,
Kempraj


Author : Anonymous

( Author )
11 January 2010

Hello,

I hereby requesting some body to reply my queries.


Author : Anonymous

( Author )
30 January 2010

Suppose a Dealer does not furnish a credit note details in VAT-240 with out availing input credit for the same, does it amounts to a serious offence under the KVAT Act?

Kindly help me out on this issue.

Kempraj.


Author : Anonymous

( Author )
30 January 2010

Suppose a Dealer does not furnish a credit note details in VAT-240 with out availing input credit for the same, does it amounts to a serious offence under the KVAT Act?

Kindly help me out on this issue.

Kempraj.


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