There may different types of forms in different states in India. However, in Delhi, we have the following forms:-
DVAT – 16 (VAT return)
DVAT – 20 for Tax Payment
DVAT – 17 for VAT return for Composite Dealer
DVAT – 30 to maintain the Details of all purchases (local, Central, Import, Transfer)
DVAT – 31 to maintain the Details of all Sales (local, Central, Export, Transfer) should be kept by all dealers in this form..
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.
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..
The rate of tax applicable to the goods packed in such packing material will be the rate of tax applicable on this packing material. Where such goods are exempted from tax, the sale of packing material/container will also be exempt from tax.
Following are the forms which are required in case of central sales:-
Form – 1 for Sales Tax Return for Central sales.
Form 2-A for Requisition A/c for Declaration Forms
Form 2-B for Utilization A/c of Declaration Forms
Form 2-C Application of issue of Declaration Forms
Form 3 – Register of Declaration Forms
Form 4 -Register for Inter-state Sales
Form – 51 for details of C form Received from Purchasers..
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..