Documents to be given to VAT Inspector at the time of Visit
1. Copy of DVAT-04 Application
2. Copy of Challan
3. Photocopy of PAN card of Proprietor / Company / Firm / LLP (Originals to be shown)
4. Photocopy of PAN card of all Director's / Partner's (Applicable in case of Companies / LLP) (Originals to be shown)
5. Photocopy of Address Proof (Voter id or Passport or Driving License or Aadhar of Proprietor / Director's / Partner's) (Originals to be shown)
6. Cancelled Cheque
7. Photocopy of Electricity Bill along with Rent Agreement / NOC (Originals to be shown)
8. Photographs of Proprietor / Director's / Partner's
MERITS OF VAT
1. A perfect system of VAT is a perfect chain where tax evasion is difficult.
2. VAT facilitates precise identification and rebate of the tax on purchases and thus ensures that there is no cascading effect of tax
3. Under a VAT system, the buyer knows, out of the total consideration paid for purchase of material, what is tax component. Thus, the system ensures transparency also.
4. VAT does not have any inflationary impact as it merely replaces the existing equal sales tax. It may also be pointed out that with the introduction of VAT; the tax impact on raw material is to be totally eliminated.
Rate of Tax on Commodities under Delhi VAT
NEED FOR VAT REGISTRATION
Every business established in India needs to obtain certain tax registrations keeping in view the nature of business carried on by them. The non registration under any applicable tax registration attracts heavy penalties. Generally business are not aware of the various tax registration they actually need to have to undertake their business and moreover obtaining tax registration may be at times , a cumbersome process, as it involves preparing registration application & other related documents, coordination with tax officials.
DUE DATES FOR PAYMENT OF SALE TAX
Sales tax is paid on monthly basis before the 21st of following month
DUE DATES FOR FILLING VAT RETURNS
Due date for filing VAT Return in delhi is 25th of Next Month following the quarter
Example For Quarter 1 ( April - June) Due date for filing return is 25th of July