Hi
I am working construction company, I joined in new company recently , i fillied VAT NIL retur in MAY for March month sales, Because I dont have update about sales. now i have information about sales of march, how to pay the vat amount, is there there any interests applicable on for late payment, what is the process & how to file REVISED VAT. Our Company pay VAT AMOUNT THROUGH CHEQUE.
Thank you
@ Hanimi
You are asking for which state VAT?
| Originally posted by : Piyush Tanwar | ||
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@ Hanimi You are asking for which state VAT? |
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I am asking about Telangana State
Thank you
Sir,
dealay attracts interest as applicable in the specified state. and u can file dellayed return with interest. provided for claiming ITC on purchases if the date of filing doesnot cross 90 days from the date of purchase because law says itc can be claimed before the completion of asst year or 90 days from the date of purchase whicever is later. here ur previous asst yr is over as of march.and if the filing doesnot cross 90 days from the date of purchase then u can claim itc otherwise u may have to sacrifice.
in addition to that the department will ask for a letter stating the valid reason for the delay and assurance quoting that this kind of delay will not happen again from u.
with regards
P.R.Ganesh
CAclubindia
