Sandeep Ahuja & Co.

Established in the year 1986, we are a leading chartered accountancy firm based in Delhi & NCR rendering comprehensive professional services which include statutory audit, internal audit, direct tax, transfer pricing, GST, bank audit, propriety audit, cost accounting, internal financial controls and risk advisory.

Wednesday, January 29, 2014

Clarification for filing Second/ Third Quarter DVAT Return online

            Clarification for filing Second/ Third Quarter DVAT Return online
                                               CIRCULAR  NO. 22 DATED 06.11.2013
1.     Form 1 Pt. R6 & R7: Rate wise break-up of Exempted Turnover
In this the Column “Tax Rate (DVAT)’ would NOT BE MANDATORY for the filers filing Second Quarter Return. However it would be MANDATORY for those who are filing the returns of Third Quarter and so on.
2.     DVAT 16 Pt R7.4: TDS Credit on the Basis of Deductor’s Certificate
The credit of TDS is to be taken on the basis of TDS Certificate in the tax period in which such certificate has been issued as provided in section 36A of Delhi Value Added Tax Act, 2004.
3.     R10 – Details of Pending Statutory forms / Declarations
a)     Here the details of the Furnished Forms/Pending forms/Missing Forms in lieu of concessional sale / stock transfer (outward) are to be provided.
b)     This would be MANDATORY if there is any Central Sale against Forms. 
c)     The dealers can also make payment themselves of the tax with interest against missing forms.
d)     This information would be used in making default Assessment without seeking any additional information or requiring the presence of dealer.
e)     This information is necessary for expediting refunds of dealers where sales/ supply against statutory forms C, F, H, etc.
f)      Information once submitted in the return would be auto-reflected in future returns and dealers will only be required to update the information.
4.     Stock/Branch Transfer against F Forms
Supply of goods for job work (inward as well as outward) is required to be supported by statutory forms ‘F’ in accordance with the requirement of Central Sales Tax Act, 1956.        
5.     Tax rate wise break up of turnover in Annexure 2A & 2B
Information pertaining to tax rate-wise turnover of purchase & sale during the course of inter-state trade and commerce in column 5 of both the annexures will NOT BE MANDATORY field for the second quarter return of the current year.
Filling up Tax Contribution (Difference of Output & Input Tax for each commodity) in block R3 of DVAT return filed in Form DVAT-16 is NOT MANDATORY for Second Quarter, but it would be MANDATORY for the Third Quarter & Onwards.
CIRCULAR  NO. 31 DATED 31.12.2013
1.     Since some dealers are not able to compile and file the information till date, Last date of filing R10 & Third Quarter Return extended to 31st January 2014.

2.     Last date of Submission of Audit Report in Form AR-I for the year 2012-13 by dealers having turnover of Rs. 10 crore or more in Financial Year 2011-12 or 2012-13  extended to 31st January 2014.

Contibuted by Shiwali Shukla ( CA Finalist )

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