File kvat nil returns

Others 2407 views 3 replies

Arun

Manager

60 Points Joined July 2011

Hello Experts,

We received our VAT registration on Nov 15th. Since then, we have not made any sales at all. However, we initiated some imports between Nov 15 and Nov 20. The goods landed in India the last week of November and were Customs cleared in December.

My questions:

Do I have to declare the imports while filing VAT returns for November? Or, can I wait till December returns?
Also, what value do I assign for the imports - the actual amount we paid or the value assessed by Customs for the shipments (inclusive of basic, CVD, cess, etc).

Thanks in advance for your assistance.

Arun

Replies (3)

Shankar Reddy.V

Tax consultant

81 Points Joined November 2011

1.file nil returns for November, since you have taken delivery of goods in december.

2. Actual value paid includes customs duty

Dheerendra

Finance Incharge

122 Points Joined December 2009

Shankar Reddy is Right

sesha

accounts executive

1101 Points Joined August 2009

within 3months uwant raise sales bills for the materails purchased otherwise sales deptwill issue notice without sales for more than 3months. or they ukeep material as capital materials purchased uwant show import purchases with custom duty billof lading invoice copy of the client to be furnished while making the import purchase returns.