Revised procedure of vat retrun in maharshtra

Mahavat 390 views 9 replies

arun

accountant

27 Points Joined May 2012

What is the Periodicity of vat retrun from April 16 will now be applicable ?

Is there is change in Half Yearly VAT Returns

Understand New VAT Returns are required to be uploaded by Transaction wise i.e. Invoice wise and not consolidated figures

There will be 100% cross verification of your Input Set off with the suppliers data. If it does not matches it will be required to be paid in next period due return Sales Tax Department has issued FAQ & Presentation on VAT Returns

Revised annexures and forms are not availavle in maharshtra vat site.

Can you please guide in his regard..

Thanks

Replies (9)

CA RAHUL RAMCHANDAN

Chartered Accountant

235 Points Joined April 2010

from April 16 periodicity are only two that is monthly and quarterly, if your vat liability is less than 10 lakh or vat refund was less than 1 cr. in that case your periodicity will be quarterly and if you have registered newly and not satisfying above conditions in that case your periodicity will be monthly..

CA RAHUL RAMCHANDAN

Chartered Accountant

235 Points Joined April 2010

for Fy 2016-17 you can verify your periodicity on mahavat site by entering your tin into tha know your tin section.. turnover and refund calculation was with respect to last Financial Year...