Exempted turnover under ap vat act

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anil

student

32 Points Posted on 05 February 2014

Hi freinds

One of my friend running motore vehicles service station,as per Andhra pradesh VAT act he is registered as a retail delear. while conducting the service part he is transfering material and service.In vat return where can he show the service part as an exempted turnover.If he doesn't show the exempted turnover in return what are the consequences.on material part he is directly paid the output vat in vat return also he is showing only material part. his annual turnvoer is more than Rs.10 lakhs but he doesn't have service tax registration.is it necessary to take service tax registration? if Service tax registration is not taken then what are the consequences

Replies (2)

manlion

ACCOUNTS EXECUTIVE

29 Points Posted on 07 February 2014

Hi,

1)Under APVAT Act you can show the exempted turnover in VAT 200 return column"Exempted Turnover or Exempted Transcation", if you don't show the exempted trurnover department may collect the tax as hide your turnovers while filing returns thus show the exempted turnovers while filing the returns itself as precaution is better than cure.

2) If services turnover exceeds 10 lakhs, you should registered with service tax department otherwise deparment may collect the service tax with interest and penalty.