Can someone clarify the due date for filing of MVAT returns for the period Oct11 to Mar12, if the assesee has come under Tax Audit for the first time in F.Y. 11-12.
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Vat annesure
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If the client's turnover crosses 60 lakhs as per MVAT act then the due date for filing the return for Oct 11-Mach 12 is 21st april 2012
If the client's turnover does not crosses the treshhold limit of 60 lakhs then the due date for filing the return is 30th June 2012 . However the client has to first upload the e-return annexure for the whole year and then upload the return
Ok ....
Agree with Mr.Harshal...
Doubt regarding annexures.
Total 42 lakh rupee worth of purchase done in last financial year.Out of this 30 lakh is including vat and rest is tax free purchase.
DO one has to mention tax free purchase in annexure j2?
What does column like gross purchase/sales where taxes are not collected separately means in j1 /j2 annexure.
Does it mean detail of tax free product purchased or sale?
It means those values where the sale made to the customers is at a value which is inclusive of vat ..
the vat is calculated by adopting the reverse calculation method ..
in other words it means that the vat amount is not separately shown in the tax invoice
suppose total value collected from customers is 100
so to calculate vat @ 5%is done by reverse calculation i.e 100*5/105
ok .....
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