Saturday, October 26, 2013
Thursday, October 3, 2013
Saturday, September 28, 2013
Friday, September 27, 2013
Saturday, September 21, 2013
Friday, September 20, 2013
Tuesday, September 10, 2013
Sunday, September 8, 2013
Tuesday, August 27, 2013
AP Revise Return Clarification_Feb2013
Clarification on Revise VAT Return
Date: February
8, 2013
In the
month of April 2012, department has launched the facility of filing Revise VAT
Return online. Latest Guidelines are as follows:
1. Dealer can file Revise VAT Return
within 6 months from the end of relevant tax period.
2. However Dealer cannot change OB from previous
month. This will remain same as per previous month Return.
3. CTO will approve such Revise Return. On
approval by CTO, original Return will be replaced by revise Return in database.
Original Return will go to History database.
4. Revise Return will not change Net
Credit Carried Forward (OB for Next Month). NCCF for current month and OB for
next month will remain as per original Return. (If revise return is allowed to
change NCCF for current month and OB for
next month, in that case NCCF and OB will get changed for next 6 months and
dealer has to file revise return for 6 months and department has to approve all
these 6 Revise Returns. It will be heavy burden for dealer as well as
department. Hence it is decided that Revise Return will not have any impact on
NCCF and OB for subsequent months. Any impact of Revise Return has to settled for that month ONLY)
5. Revise Return may result in following
situations:
a. Increase in tax Liability: CTO will
issue notice for additional demand and dealer shall pay accordingly.
b. Decrease in tax liability: Dealer DCB Register Report will show excess
credit. Dealer can use such excess credit for paying his future tax liability.
c. Increase in Net Credit Carried Forward: Dealer DCB Register Report will show excess
credit. Dealer can use such excess credit for paying his future tax liability.
d. Decrease in Net Credit Carry Forward: Based on DCB Register, CTO will issue notice for
additional demand and dealer shall pay accordingly.
Commissioner, CT
Subscribe to:
Posts (Atom)