Madhya Paradesh VAT - Form 4-B

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Hardik Sarvaiya (Querist)

07 July 2011 Please help me in filing following rows :

1. What to write in Duration of Contract? Shall we Write Duration of Contract in To Date Column as Contract will be going on for 3 years.

2. In Particulars of Running Bills What to Write?

3. What to Write in Composition Amount? Is it Tax Amount or Sale Bill Amount?

CS Bijoy

CS Bijoy (Expert)

08 July 2011 According to me you have to specify the period by date such as 15.01.2011 to 31.03.2011
In particulars of Running Bills you have to give details of the Bills on which work in process or yet not completed.
In composition amount according to me the Bill amount will be entered but I am not confirm....expected other advice

Hardik Sarvaiya

Hardik Sarvaiya (Querist)

08 July 2011 ok sir..

waiting for others` reply..

Aashok Kumar Sharma

Aashok Kumar Sharma

(Expert)

03 August 2024 For Madhya Pradesh VAT Form 4-B, which is used for reporting details related to contracts and composition schemes, here’s how you can fill it out:

1. **Duration of Contract:**
- In the **"Duration of Contract"** section, you should specify the actual time frame of the contract. This is typically shown in a date range. For a contract that will last for 3 years, you should indicate the start date and end date of the contract. For example, if the contract starts on January 1, 2024, and ends on December 31, 2026, you would write:
- **From Date:** 01/01/2024
- **To Date:** 31/12/2026

2. **Particulars of Running Bills:**
- In the **"Particulars of Running Bills"** section, you should provide details of all the running bills issued under the contract. This includes information such as:
- Bill number
- Date of the bill
- Amount of the bill
- Description of the goods or services provided
- Tax details (if applicable)
- Make sure to list each bill clearly, following the order of their issuance.

3. **Composition Amount:**
- The **"Composition Amount"** refers to the amount of tax that is paid under the composition scheme. It is not the total sale bill amount but rather the tax amount that is calculated as per the composition scheme rates.
- For example, if you are under a composition scheme where the tax rate is a specific percentage of the turnover, you should calculate the tax based on this rate and write that amount in the **Composition Amount** field.

Ensure you refer to the latest guidelines and notifications from the Madhya Pradesh VAT department or consult a tax professional to confirm that you are complying with all the current rules and regulations.

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