27 February 2010
Dear expert, can we revise the Vat ruturn of 2006-07 in the year of 2009-10, if we have already fild the Vat annual report on the basis of original vat return? however we have not included the branch transfer in the vat return,now we want to include the same. can we do the same?
It is not possible for filing VAT return related to 2006-07 in the year 2009-10. At the time of assessment proceedings, you have to declare any branch transfers or any other sales and if any penalty appears, we have to bear as we have failed to disclose the details of the same. So, its our duty to disclose all the sales and purchases to Commercial Taxes Department which we may be liabile for penalties and interest payments at the time of final assessments. If our point is strong in this regard, then we can file an appeal against the show cause notice issued by the department.
any queries in this regard, please let me know further.
13 April 2010
If at all that branch transfers are not yet disclosed with STO, then take it light. If you take into light those branch transfers to STO, then there are more chances of penalizing you upto more than 200% of those branch transfer value. So, i recommend you to skip these items.
I want you to speak to your local consultant or Chartered Accountant about the same and confirm.
According to me, my feeling is as explained above because related to 2006-07 you cannot revise and file the same in 2009-10. Hope you are clear in this regard.
CAclubindia
