As you are aware , the last date for filing the TNVAT Audit Report in Form WW is 31st December every year. For the year 2015-16, the last date for filing the same is 31st December 2016. Recently, the TNVAT department has introduced a new Form WW for filing the VAT Audit Report. There was […]
TNVAT Audit Report- Format for the year 2015-16 Read More »
The following are the various statotory obligations for the month of September 2016 :- [table id=14 /]
Statutory Obligations for the month of September 2016 Read More »
Due to the change in the e filing procedures and introduction of New portal for filing TNVAT returns, the method of payment of TNVAT & CST has also undergone considerable change. The method of payment of TNVAT/CST using the new portal is reproduced below :- [gview file=”http://bssridhar.com/blog/wp-content/uploads/2016/07/HOW-TO-MAKE-EPAYMENT-UNDER-NEW-TNVAT-PORTAL.pdf”]
How to make epayment under new TNVAT Portal Read More »
The Government of Tamilnadu vide its Notification No :- GO (Ms) No 133 dtd 30th December 2015 has extended the last date for filing of Form WW (TNVAT Audit Report) from 31st December 2015 to 31st January 2016. However this is applicable only in respect of dealers having principal place or additional place of business
Last date for Submission of TNVAT Audit Report extended Read More »
The TNVAT Department vide its Proceedings No. Acts Cell-5/20414/2014 dtd 12th March 2015 has notified new commodity codes in respect of Commodities chargeable to TNVAT. The existing Commodity codes have been recodified for betting accounting and accuracy in data. This is a step towards the Total Solution Project (TSP) of the TNVAT Department. These new
TNVAT New Commodity Codes notified Read More »
Recently, the Tamilnadu Government, in its Budget presentation had proposed certain changes in the TNVAT Act which includes changes in rate of tax and provisions with regard to withdrawl of ITC reversal in respect of Inter-state Sales. These changes have come into effect from 1st April 2015. The relevant Gazette notification dtd 31st March 2015
Effective Date for TNVAT Amendment 2015 Read More »
From October 2012 onwards under the TNVAT act, the dealers were required to file Annexure – I A in respect of purchases/transactions for which Statutory forms (viz Form C / Form F), are to be issued. This was done with a view of downloading the Statutory Forms (Form c & F) from the e filing
TNVAT- Online Generation of backlog Forms Read More »
The Tamilnadu Commercial Tax Department has issued a new Circular No 2/2014 prescribing the revised guideline and procedures to be adopted for Registration and Issue of Registration Certificate to dealers. The salient features of this circular are as follows :- 1) Previously, application for new registration of a business in respect of six evasion prone
Registration under TNVAT Act – New Procedure Read More »
The Tamilnadu Government has made few important amendments in TNVAT Act with regard to reversal of Input Tax Credits in respect of Inter-state sales and Stock Transfers outside the State. These amendments were carried out by enacting a Tamilnadu VAT (Fifth Amendment) Act, 2013 (Amendment Act) on 8th November 2013. The effective date for these
Important amendment to TNVAT Act regarding ITC Reversal Read More »
Many times business entities get Invoices and Forms (Form C, Form F, Form E-I, E-II) out of the state where their office is situated. As a business entity , during VAT / CST assessments , the onus is on the assesee to prove the genuinity of the Invoice/Forms and the Registration of the dealer from
How to check whether a TIN / CST Number is genuine ? Read More »
There are three methods of tax payments available for Works Contracts Tax in TNVAT. They are as follows :- 1) Goods Identification method (Section 5) 2) Percentage Deduction method – Rule 8(5) 3) Composition Scheme – Section 6 GOODS IDENTIFICATION METHOD In this method, tax is on the deemed sale value of goods at rates
HOW TO DISCHARGE WORKS CONTRACT TAX IN TNVAT Read More »
VAT Input Credit is not available for all types of purchases, there are certain purchases which are in eligible for Input Tax credit Claim. The Eligible and Ineligible Purchases for the purpose of Input Tax Credit are given below :- Eligible Purchases: Purchases made: è For sale/resale within the state è For interstate sale (Sale
Eligible & Ineligible Purchases for VAT Input Tax Credit Read More »
The Government of Tamilnadu vide its notification dtd 09th March 2012, has reduced the rate of tax on sale of ready to eat unbranded foods and mineral water served in or catered indoors or outdoors by hotels , restaurants, sweet-stalls, clubs , caterers and any other eating houses , to 2% of the taxable turnover.
TNVAT on unbranded food & Mineral water reduced to 2% Read More »
Every dealer who is liable to pay tax under this Act shall file return on or before 20 th of the succeeding month to Assessing authority in whose jurisdiction the principal place of business is located along with statement of purchases and sales effected by him during the month in the Form specified in Rules. Every dealer whose taxable turnover in
TNVAT Monthly Return Filing Read More »
