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Frequently Asked Questions on Saral VAT 100
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Who should register under VAT? |
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Every Dealer whose taxable turn over exceeds two lakh Rupees during the year has to pay VAT |
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Every dealer whose taxable turnover exceeds fifteen thousand rupees in any of the month has to pay VAT |
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| 2. |
What is the limit for a dealer under CoT? |
| Dealer whose total turn over does not exceed two lakh Rupees in any of the four Quarters will come under CoT |
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| 3. |
Can I File VAT Quarterly Return? |
| Yes , VAT Return can be filed Quarterly |
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| 4. |
What are all the changes in VAT for the year 2006-2007? |
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VAT110 which was used for revised return is now the return for Casual Traders |
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For any correction, VAT100 should be used by mentioning the 'Type of return' as 'Corrected'/'Revised'/'Final' |
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Commodity-wise particulars (both Sales as well as for Purchases including non-sale transactions) should be provided in the Annual Statement |
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Entry and Special Entry Tax Return form part of VAT100 |
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Annexure I is introduced which is extract of local purchases. which forms a part of VAT100 |
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Annexure II is introduced for giving particulars related to statutory forms like C form etc., |
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Computation of ineligible portion of input tax under Sec 14 and Sec 17 has been revised and a new formula is given |
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Introduction of Annual Return |
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Introduction of Form 6 and Form 170 |
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| 5. |
What is Annual Return? |
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Form 115 is the annual statement to be submitted by a dealer under VAT after the completion of the year 2006-07. This contains commodity wise information for all types of transactions. |
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Form 135 is the annual statement to be submitted by a dealer under CoT after the completion of the year 2006-07.
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What is Form 6? |
| Form 6 is the form to update registration data. Form 6 has to be filled in and attached to the return for the last month of every year |
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| 7. |
What is Form 170? |
| Form 170 is the Register of Purchases made within the state under Rule 33(2). Every dealer shall keep the account of Purchase made within the state in form 170 |
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What is Annexure - I and Annexure - II? |
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Annexure - I contains the details of Input-Turnover (Local) and Tax Paid as per Tax Invoices. This information shall be furnished by a VAT dealer whose turnover for the preceding year is less than 2 crores and/or less than 16 lakhs during the month. |
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Annexure - II contains Details of statutory forms filed for the particular quarter ending |
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| 9. |
Can a CoT Dealer buy CST goods? |
| Yes , A CoT Dealer can buy CST goods. |
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