Please Wait ..

Sign-in to your account


Username:
Password:

Remember Me

Forgot your password?

Sign-up now



Join CAclubindia.com and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.


Discussion > VAT > Mahavat >

Rs.25000 deposit for voluntary registration

    Post New Topic
Pages : 1





CA

[ Scorecard : 2192]
Posted On 28 December 2011 at 09:09 Report Abuse

The deposit of Rs.25000 which is payable as security deposit with the Department: is it refundable or can it be adjusted against trax payale or other liability of the dealer?

Earlier, it could be adjusted against any tax/interest/penalty payable and after the end of 2years, it was refunded. But apparently, this has been changed from 1st May 2011??? What is the new provision?


Online classes for CA CS CMA



aparna
SALES TAX PRACTITIONER

[ Scorecard : 51]
Posted On 28 December 2011 at 13:49

Hi,

WITH EFFECT FROM 01/05/11 SECUITY DEPOSIT OF RS. 25000/- UNDER VOLUNERY REGISTATION WILL NOT BE ADJUSTEBLE AGAINST TAX/INTEREST/PENALY.

THE S.D IS REDUNDABLE IN THE MANNER AND TIME AND ON FILFILLMENT OF SUCH CONDITIONS AS IS PRESCRIBE IN THE RULES. THE RULES 60A PROVIDES THAT THE SAME WILL BE REFUNDED ON APPLICATIONS WITHIN 6 MONTHS OF CANCELLATION OF REGISTRATION, WHERE REGISTATION IS CANCELLED WITHIN 3 YEARS. OTHER CASES THE DEALER MAY APPLY REFUND WITHIN 4YEARS FROM DATE OF REGISTRATION BUT AFTER COMPLITING 3 YEARS FROM DATE OF REGISTRATION.

 

THANX

APARNA SUTAR (STP)

9967649215



Total thanks : 2 times



There are 1 Replies to this message








Related Files








Related Threads


Post your reply for Rs.25000 deposit for voluntary registration



Your are not logged in . Please login to post replies

Click here to login


Not a member yet ?? Click here to signup

Message







    

  • Use thank button to convey your appreciation.
  • Maintain professionalism while posting and replying to topics.
  • Try to add value with your each post.




Forum Home | Forum Portal | Member Control Center | Who is Where | Popular Threads | Today's Topic | Recent Posts | Today's Posts | Post New Topic | Thread With Files | Top Threads This Month | Forum Stats | Unreplied Threads

back to the top