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Vat tds unver up vat act

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ABHIJIT GUPTA (Querist)

15 April 2015 Dear Sir,
Please tell me regarding the TDS on VAT which is deducted by Buyer at time of making payment to seller. So, How to get benefit of TDS of vat when filing the vat return form- 24 and how will be considered in vat return. is the buyer isuue Form 31 to seller regarding the benefit of TDS on VAT?

kalpesh bafana

kalpesh bafana (Expert)

16 April 2015 Yes, if there is WCT Contract works then 2% TDS on VAT is deducted by the buyer & same is deposited by him to Sales Tax. Against this deduction he may gives form 402 ( TDS Certificate ) for deduction which can claim by the seller against VAT Set off.

ABHIJIT GUPTA

ABHIJIT GUPTA (Querist)

16 April 2015 Thanks for reply. but my question is related to up vat act..... when buyer makes payment to seller then he deduct the amount equal to vat and issue the form 31 to seller to take the benefit as tax liability. How to consider in VAT return form 24. I review the form 24 there in no seperate place where vat tds can shown as tax benefit availed by the seller.

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