Imp dates of delhi vat

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 August 2013 heyyy

i want to know all dvat information ....

like
what is the last date monthly deposite vat, what is a interest rate of for non payment or penalty,
what is the last date of filling stock.
what is the last date of submitteing audited balance sheet..

pls pls any 1 now it pls provide me all these or other relevent information

Querist : Anonymous

Querist : Anonymous (Querist)

05 September 2013 Help me frends to provide valuable info.

Querist : Anonymous

Querist : Anonymous (Querist)

05 September 2013 Help me frends to provide valuable info.

Asha Kanta Sharma online

Asha Kanta Sharma online

(Expert)
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28 July 2024 Certainly! Here’s a comprehensive guide on important dates and related details for Delhi VAT (Value Added Tax). Please note that VAT regulations may have been updated, and it's always a good idea to check the latest notifications from the Delhi Government or consult with a tax professional for the most current information.

### **Delhi VAT Important Dates and Information**

#### **1. **Monthly VAT Payment**

- **Due Date for Monthly Payment:** VAT returns and payment for a particular month must be filed by the 21st of the following month. For example, VAT for the month of April must be filed and paid by May 21st.
- **Interest Rate for Late Payment:** Interest on delayed payment is charged at 1.5% per month or part thereof, calculated on the outstanding amount.

#### **2. **Quarterly/Annual Filing**

- **Quarterly Returns:** Some small dealers may file quarterly returns. The due date for quarterly returns is the 21st of the month following the end of the quarter.
- **Annual Return:** The annual return is typically due by the 31st of December for the previous financial year.

#### **3. **Filing Stock Statement**

- **Stock Statement:** The stock statement must be filed along with the annual return. This provides details of the closing stock at the end of the financial year. The deadline is the same as the due date for the annual return, which is December 31st.

#### **4. **Submission of Audited Balance Sheet**

- **Due Date for Audited Balance Sheet:** The audited balance sheet must be submitted along with the annual return. The due date is December 31st of the assessment year, which corresponds to the end of the financial year. For example, for the financial year ending March 31, 2024, the audited balance sheet must be submitted by December 31, 2024.

#### **5. **Penalty for Non-Compliance**

- **Late Filing Penalty:** A penalty is imposed for late filing of VAT returns. It can vary depending on the length of delay and the amount of tax due.
- **Penalty for Non-Payment:** If VAT is not paid on time, a penalty may be imposed in addition to interest on the outstanding amount.

#### **6. **Other Key Dates**

- **VAT Registration Renewal:** VAT registration must be renewed periodically. Ensure to check the specific renewal date for your VAT registration.
- **Revision of Returns:** If you need to revise a VAT return, it should be done as soon as possible. The exact time frame for revision can vary, so consult with the local VAT office.

### **Summary of Important Dates**

1. **Monthly VAT Payment:** Due by the 21st of the following month.
2. **Quarterly Returns:** Due by the 21st of the month following the end of the quarter.
3. **Annual Return and Stock Statement:** Due by December 31st of the assessment year.
4. **Audited Balance Sheet Submission:** Due by December 31st of the assessment year.

### **Penalties and Interest**

- **Interest for Late Payment:** 1.5% per month on the outstanding amount.
- **Penalties:** Vary based on the delay and amount due.

### **Resources for the Latest Information**

For the most current and detailed information on VAT deadlines, interest rates, penalties, and other regulations, refer to:
- **Delhi Government VAT Website:** [Delhi VAT Official Website](https://www.dvat.gov.in)
- **Notifications and Circulars:** Regularly check for updates on the Delhi VAT website or the official gazette.
- **Professional Advice:** Consult with a tax advisor or accountant for specific advice related to your business.

This guide should help you navigate the key deadlines and requirements related to Delhi VAT. If you have any specific questions or need further assistance, please feel free to ask!

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