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Section 16(3) West Bengal vat act

shikha (patner) (25 Points)

20 June 2011

can someone please help me understand the composite scheme under section 16(3) of the wb vat act

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U S Sharma (glidor@gmail.com) (21056 Points)
Replied 20 June 2011

16(3) Notwithstanding anything contained in sub-section (1) or sub-section (2),

any registered dealer having liability to pay tax under this Act, many, at his

option,––

(a) if his gross sales in the year ending on the day preceding the appointed

day does not exceed fifty lakh rupees ; or

(b) if his turnover of sales in the preceding year commencing on or after 22

the appointed day

[does not exceed fifty lakh rupees, or]

[(c) if his turnover of sales during the period from the commencement of

the year in which he gets himself registered to the date of his

registration, does not exceed fifty lakh rupees,]

pay tax at such compounded rate not exceeding one per centum of the total

turnover of sales of such dealer in the year for which such option is required to

be exercised, and subject to such conditions and restrictions as many

prescribed, for each tax period of the year in view of tax payable under subsection (2) on all his sales:

Provided that the registered dealer having liability to pay tax under this

Act as stated in this sub-section shall not include––

(a) an importer; or

(b) a manufacturer; or

[(ca) a dealer who has purchased tea sold under the auspices of any tea

auction centre in West Bengal duly authorised by the Indian Tea

Board; or]

(d) a dealer who transfers goods otherwise than by way of sale within or

outside the State; or

(e) a dealer who sells goods within the meaning of section 3 of the

Central Sales Tax Act, 1956; or

(f) a dealer who sells goods in the course of import of the goods into, or

export of the goods out of, the territory of India within the meaning

of section 5 of the Central Sales Tax Act, 1956:

Provided further that such dealer shall not be entitled to issue tax invoice

referred to in clause (48) of section 2 of the Act:

Provided also that a registered dealer who, in addition to the purchase of

goods in course of his business in a year, have also received goods from the

supplier within or outside West Bengal, on branch transfer or on consignment

basis, for which no price has been paid, shall not be entitled to opt for payment

of tax under such compounded rate:

Provided also that if during the period of enjoyment of payment of tax at

compounded rate, turnover of sales of a dealer exceeds fifty lakh rupees, he

shall become ineligible to pay tax under this sub-section from the

commencement of the month immediately following the month during which

his turnover of sales exceeded such sum.

Sunil (Proprietor) (41 Points)
Replied 17 July 2014

Dear sir, if unknowingly of the above provisions someone fills form 16 can he pray for cancellation of his form 16 fill up and go back to normal filing of returns and if so also can he utilies rs 7000 paid challan for filing such returns.

sunavo banerjee (employee) (25 Points)
Replied 16 January 2015

Can a retailer in composition scheme mention inclusive of vat in its sale bill

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