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October 7, 2013

UTTAR PRADESH VAT RETURNS AND THERE FREQUENCY

This is in continuation to my earlier posts:

1. http://www.ngoandtaxconsultant.in/2013/10/uttar-pradesh-vat.html
2. http://www.ngoandtaxconsultant.in/2013/10/uttar-pradesh-vat-commodities-rates.html

After getting yourself registered and determining your VAT Commodity Codes and VAT rate, there comes the time when you have to file your VAT returns. There are different types of VAT return and each VAT return are to be filed either Monthly or Quarterly depending on certain conditions.

There are three types of VAT forms:

1. VAT FORM XXIV

2. VAT FORM XXIV-C

3. VAT FORM XXIV-D 

 

VAT RETURN FILING FREQUENCY-

Many dealers are not able to understand whether they have to file their return quarterly or monthly. Due to this they take wrong decisions and have to face penalty or unnecessary difficulties in the Commercial Tax Department.
To know whether you are required to file return monthly or quarterly, apply the following points in your situation and you will get the answer:

Monthly Return-
1. Is this your first year of registration, or
2. Is your turnover above Rs. 1 crore
If any of the condition is fulfilled file your return monthly.

Quarterly Return-
Is your turnover less than Rs. 1 crore and it is not your first year of registration?
If answer is yes than file your return quarterly.

 

Author
Akshay Jain
Chartered Accountant
Varanasi (U.P.)
Contact Me at: ngoandtaxconsultant@gmail.com for any query
or Ask your query at
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