Maharashtra vat, retunrn and audit for tax free goods
This query is : Resolved
ankit doshi
(Querist)
21 November 2014
Dear All,
One asseessee got register under MVAT Act on 10/03/2014. He deals in Tax free Product.
My Query is:
1) while filing return for Q-4 data of Full quarter to be given or only for the period 10/03/2014 to 31/03/2014
2) Do he is liable to get his accounts audited if his turnover during the year is more than 1 cr in tax free product.
One asseessee got register under MVAT Act on 10/03/2014. He deals in Tax free Product.
My Query is:
1) while filing return for Q-4 data of Full quarter to be given or only for the period 10/03/2014 to 31/03/2014
2) Do he is liable to get his accounts audited if his turnover during the year is more than 1 cr in tax free product.
Amol S Joglekar
(Expert)
21 November 2014
In normal course : from the date of registration i.e. 10/03/2014 to 31/03/2014
(Please check with the STO, if the registrtion is granted keeping the status OPEN LIABILITY...in that case give the figures for full
(Please check with the STO, if the registrtion is granted keeping the status OPEN LIABILITY...in that case give the figures for full
ankit doshi
(Querist)
21 November 2014
Dear Sir,
The asseessee has taken registation in VRS, so it will be open liability. Now my question is how i can give figure for full year when i got registration in between the year? also I m filing return for the period after effective date of registration only.
The asseessee has taken registation in VRS, so it will be open liability. Now my question is how i can give figure for full year when i got registration in between the year? also I m filing return for the period after effective date of registration only.
Amol S Joglekar
(Expert)
21 November 2014
01. You can give for the full period, what is the problem. Form 231 accepts the figures for full period..
02. VAT audit is apllicable in your case.
02. VAT audit is apllicable in your case.
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