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VAT 240 Returns

Accounts Executive


Hi,

Let me know VAT 240 is applicable only for Local Turnover exceeds 40Lakh(within State, includes Taxable and Exempt) or Includes Interstate turnover also.

Let me ASAP plz......plz......

 
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CA Final Student (Article Asst)

Hi,

As per Section 2(34) of VAT Act Taxable turnover means the turnover on which a dealer shall be liable to pay tax as derermined after making such deductions from his totoal turnover and in such manner as may be prescribed, but shall not include the turnover of purchase or sale in the course of inter-State trade or commerce or in the course of export of the goods out of teh territory of India or in the course of import of the goods into the territory of India and teh value of goods transferred or despatched outside the State otherwise than by way of sale.

As per the explanation above, VAT-240 is applicable only if the local taxable turover is rs.40 lakhs, it is applicable. You can also go through section 31 of VAT Act.

 
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Dear sir,

VAT audit under KVAT Act,2003 is applicable on local turnover only and it does not include CST turnover.

 
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CA-FINAL ( FINANCE MANAGER)

Please tell me the penalty & interest provisions related to VAt 240 non-submission on pr before 31.12.2009

 
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CA-FINAL ( FINANCE MANAGER)

PLEASE TELL ME THE PENALTY AND INTEREST PROVISIONS FOR NON-SUBMISSION OF VAT-240 WITHIN 31ST DECEMBER.  ALSO LET ME KNOW, IS THERE ANY MENTHOD TO APPLY TO CONDONE THE DELAY IN FILING VAT 240 DUE TO ABNORMAL CONDITIONS.

 
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Dear sir,

A penalty of Rs.5000 will attract if VAT 240 will not be filed on or before 31st December 2009


Total thanks : 1 times

 
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Would like to know the procedure for filing VAT 240 return for the FY ended 31-03-2010

Thanks and regards

Ramesh

 
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plese send kvat 240 from

 
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Please tell me the penalty & interest provisions related to delay in filing VAt 240 or non-submission on or before 31.12.2010

 
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