VAT Sales Tax Returns

VAT Sales Tax Returns

VAT Sales Tax Returns

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Purchase and sales

Prepare annexure for purchase and the sale Annexure 1 is for purchase which shows the amount of VAT paid Annexure 2 is for sales effected by you and the VAT Collected

calculation

VAT / Sales Tax Returns

Difference between the sales and purchase has to be paid if the liability arises or else input tax credit is carried forward to the subsequent month

Verification
Verification of the data and the tax calculation

fillling
For filing the due date is 20th and it need to be filed monthly to the commercial tax officer where the jurisdiction of the case falls.there is a need to take 3 sets of Form I along with Annexure 1 and 2

NIL or Zero VAT Return
₹ 1180
  • Package Includes
  • NIL or Zero Entries
Normal VAT Return
₹ 2360
  • Package Includes
  • Less Than 100 Entries
  • Accounting
Voluminous VAT Return
₹ 5900
  • Package Includes
  • 100 to 500 Entries
  • Accounting

Documents Required for VAT Sales Tax Returns

  • Sales and Purchase Bills
  • Bank Statements
  • Expense Bills
  • VAT id and Password
  • CST sales and Purchase bills where form C is required
  • Sales and Purchase Bills
  • Bank Statements
  • Expense Bills
  • VAT id and Password
  • CST sales and Purchase bills where form C is required
  • Sales and Purchase Bills
  • Bank Statements
  • Expense Bills
  • VAT id and Password
  • CST sales and Purchase bills where form C is required
  • Sales and Purchase Bills
  • Bank Statements
  • Expense Bills
  • VAT id and Password
  • CST sales and Purchase bills where form C is required
  • Sales and Purchase Bills
  • Bank Statements
  • Expense Bills
  • VAT id and Password
  • CST sales and Purchase bills where form C is required
  • Sales and Purchase Bills
  • Bank Statements
  • Expense Bills
  • VAT id and Password
  • CST sales and Purchase bills where form C is required
  • Sales and Purchase Bills
  • Bank Statements
  • Expense Bills
  • VAT id and Password
  • CST sales and Purchase bills where form C is required

Process Involved

Step 1

1

Documents

Step 2

2

Data processing and Tax Analysis

Step 3

3

Tax Payment

Step 4

4

Return Upload

Step 5

5

Signing of Return

Step 6

6

Acknowledgement

FAQ'S
  • How does VAT help trade?
  • Uniform rates of VAT will boost trade, 100% self assessment will reduce the tax payer’s need to visit tax department officer
  • How does VAT help industry?
  • The provision of set of tax paid on purchase/input tax credit will eliminate cascading and double taxation. This will promote production efficiency of investment. Investment decisions will not, therefore, be based on tax consideration, tax holidays
  • How does VAT help exports?-
  • ?- The goods exported are zero rated under VAT. That means, the rate applicable to such transaction will be zero and the exporter will get full input tax credit. This will make the exports competition
  • What is Input Tax?
  • The tax you pay on your purchases is input tax. Many of the things you buy will carry VAT charge, but if you are registered under VAT you can normally claim a credit for the VAT charges on most business purchases. It includes not only the VAT on your purchases of raw materials or on goods purchased for resale, but also the VAT on things like Capital goods, such as machinery or equipment for use in the business.
  • What proof do I need to claim Input Tax?
  • You must have a copy of a Tax invoice to substantiate a claim for Input Tax credit.
  • When is the dealer required to file return?
  • A dealer is required to furnish return within 21 days from the expiry of a tax period.
  • Is any declaration Form required for claiming zero CST for interstate sales?
  • Yes. Sale can be made against any CST declaration form such as C-Form, F-Form, H-Form etc.
  • Will Entry Tax not cause hindrance in movement of goods at the borders?
  • Mostly No. The importers will be expected to pre-pay the entry tax due at the Starting locations itself (such as Guwahati) before commencement of movement of goods, and carry the proof of payment. If the goods are imported through ‘Approved Road Transporters’, entry tax can be pain in Arunachal before taking the delivery of the goods. Such vehicles can pass across the borders without stopping.
  • Will dealers be allowed to sell their goods without charging sales tax separately ?
  • Dealers can include tax on the sale price.