ISSUES IN E-FILING UNDER MVAT ACT

Transcription

1 ISSUES IN E-FILING UNDER MVAT ACT Presentation by CA PRANAV KAPADIA For Seminar on e-filing by The Chamber of Tax Consultants CA PRANAV KAPADIA 1

2 E-Services under MVAT Registration Returns & Annexures Supplementary J1-J2 Application for Declaration Forms Form Audit Report Form Refund Application Form 424 WCT TDS Return CA PRANAV KAPADIA 2

3 Types of Returns Form 231- All Dealers other than those liable to file forms 232, 233, 234 or 235. Form 232 Dealers whose entire T.O. is under Composition (excldg. Works Contract Comp.) Form 233 Works Contract, Leasing, Dealers Opting for Composition for Part of Business Activity Form PSI dealers holding Entitlement Certificate Form 235 Notified Oil Companies, Motor spirit Dealers covered by Notification u/s 41(4) Form III-E Dealers under CST Act. Form III-B Employers under PT Act. ( PTRC holders) CA PRANAV KAPADIA 3

4 Periodicity of filing returns under MVAT/CST Monthly, Quarterly, Half Yearly As Displayed on Website - Rule 17(4)(e) - Notifn. VAT-1511/CR 84/Taxation-1 dtd Retailers under Composition HLY Newly Registered Dealers QLY PSI Dealers - QLY Deemed Dealers u/s2(8) HLY CA PRANAV KAPADIA 4

5 Due Dates for e-payment of Tax under MVAT/CST If periodicity is Monthly or Quarterly : - Within 21 days from the end of the period If periodicity is Half Yearly : - Within 30 days from the end of the period E-payment is Mandatory for all Dealers Half Yearly dealers can make payment in designated Branches of SBI (SBI letter Ref. No. GBD/SCC/974 dtd ) Trade Cir. 19T dtd Clarification w.r.t Due Date on Sunday or Public Holiday. CA PRANAV KAPADIA 5

6 Due Dates for E-filing upto for All Dealers If periodicity is Monthly or Quarterly : - Within 21 days from the end of the period If periodicity is Half Yearly : - Within 30 days from the end of the period - E-return uploaded within 10 days from due date will not be treated as late return provided payment of tax as per return is made on or before the prescribed due date. - Circular Nos.16T/2008, 38T/2008, 1T/2009 CA PRANAV KAPADIA 6

7 Due Dates for Efiling-from for Dealers liable for MVAT Audit Notifn. VAT 1511/CR 138/Taxation-1 Dt. 5th Dec 2011 Trade Cir. 3T dtd , 7T dtd Eligible for Yes If periodicity is Monthly or Quarterly : - Within 21 days from the end of the period If periodicity is Half Yearly : - Within 30 days from the end of the period CA PRANAV KAPADIA 7

8 Due Dates for Efiling-from Dealers Not liable for MVAT Audit Eligible for 704 No For Mth/Qtr/Half Year ending 31 st March To upload e-return Annexures C,D,G,H,I,J-1,J-2 before uploading Return - Both Within 90 days from the end of 31 st March Yearly data in the Annexures Periodic Data in the Returns Not Applicable to Dealers opting for Composition u/s 42(1), (2) and (3A). CA PRANAV KAPADIA 8

9 Due Dates for Efiling-from Dealers Not liable for MVAT Audit Eligible for No For Mth/Qtr/Half Year ending other than on 31 st March Annexures C,D,G,H,I,J-1,J-2 not required to be uploaded If periodicity is Monthly or Quarterly : - Within 21 days from the end of the period If periodicity is Half Yearly : - Within 30 days from the end of the period CA PRANAV KAPADIA 9

10 Penalty Late Filing fees Non-appealable Penalty u/s 29(8) (upto ) for late filing of Return is Rs.5,000/- per return. Late Filing Fees u/s 20(6) (w.e.f ) - Rs.5000 in lieu of penalty u/s 29(8) - Proviso added to sec.20(6) for exemption from payment of late fees in specified cases as may be mentioned in the Notification CA PRANAV KAPADIA 10

11 E-Filing of Returns Enrollment for e-services One Time Activity Download Forms Electronic forms - e-return forms - Form 231, Annexures(for e-704 not eligible dealers), Form CST III-E Tools Macro Security-Medium or Low Off-line filling of Forms & Validation of File If error shows, open Error Sheet and correct the errors On Validating again, Rem.txt file is generated in My Documents folder Dealer Login & Password E-Services - E-Returns - Browsing and uploading Acknowledgement CA PRANAV KAPADIA 11

12 Revised Returns Sec.20(4)(a) : Within 10 months from end of the year to which the return relates Sec.20(4)(b) : Before the expiry of 30 days from the due date of MVAT Audit. Sec.20(4)(c) : Within 30 days from the date of service of intimation u/s 63. Only one Revised Return can be filed for periods starting after CA PRANAV KAPADIA 12

13 Issues : Return not allowed to be uploaded without payment of late filing fees or acceptance of liability to pay the late filing fees If original return filed in Form 231, but if applicable form was 233, then system is not accepting the new form as Revised and levying penalty/late fees CA PRANAV KAPADIA 13

14 Issues : Eligible for 704 : Yes/No? What should be done when dealer is uncertain whether he would be eligible for 704 No provision for filing revised Annexures by Non Audit Dealers and Form 704 Supplementary Annexure J1-J2 CA PRANAV KAPADIA 14

15 Prof.Tax PTR E-filing mandatory wef for employers having tax liability more than Rs.20000/- in pr.yr. Cir. 1T of 2011 E-filing mandatory for all employers from Optional E-payment facility for PTE and PTR from Cir. 1T of 2012 Salary p.m. Prof Tax(PTR) p.m. upto Rs.5,000/- NIL 5,001/- to 10,000/ ,001/- & above 200 (300 for Feb.) CA PRANAV KAPADIA 15

16 PTR-Periodicity wef If Tax liability is less than Rs /- in previous year Annual Rtn. If Tax liability is more than Rs /- in previous year Mthly Rtn. Due date for payment of tax and filing of returns within 30 days CA PRANAV KAPADIA 16

17 PTR - Issues Salary Rs 15000/- for Nov 12 is paid on 5 th Dec 12. The PTR of Rs.200/- payable for the Mthly Rtn for the period to is due on and the return should contain the data for the salary paid for the month of Nov 12. Challan should be for the period to Tax payable for the Annual return for the period to is due on and the return should contain the data for the salary paid for the months of Mar 12 to Feb 13. CA PRANAV KAPADIA 17

18 E-Declaration Forms application Download Forms Electronic forms - e-applications for CST forms Off-line filling of Forms E-Appln for CST Forms C / F / H / E-I/ E-II Location of Main POB CST RC/TIN of Form accepting Dealer Period of Transaction (for F Forms -Mthly,for Others-Qly) Total No. of Transactions Total Value of Transactions Description of Major Goods CA PRANAV KAPADIA 18

19 E-Declaration Forms application Validation of File If error shows, open Error Sheet and correct the errors On Validating again, Rem.txt file is generated in My documents folder Dealer Login & Password E-Services - E-CST Declarations Browsing and uploading Acknowledgement CA PRANAV KAPADIA 19

20 Declaration forms - Issues Matching of data in returns with the application Hly Rtns Qly Forms Debit/Cedit Notes, Goods return Sale bill of March but purchases booked in April Correction/Rectifications CA PRANAV KAPADIA 20

21 E-Registration Applications On-line Application for MVAT & CST Request ID is displayed on every form on the top (Using this Request Id you can edit your request.) Wait Until Application Load ( Your Browser Process Bar Stops Loading Logo.) Application is More compatable with Mozilla fire fox ( works fine with IE 6 SP2, FireFox 3.0) CA PRANAV KAPADIA 21

22 E-Registration Location Name of Business Name of Applicant Status of Applicant PAN Select : MVAT, CST Act Request ID & Retreival CA PRANAV KAPADIA 22

23 E-Registration Filling the form on-line Acknowledgement Physical Submision of Form & Documents Personal Attendance of Applicant for Photo-sign. Obtaining TIN Allotment Letter E-services enrollment & Submission of its Acknowledgement. CA PRANAV KAPADIA 23

24 Refund Application - Form 501 To Apply for Refund within 18 months from the end of the period. Exporter / General refund Invoice-wise Purchase details on which set off is claimed. Details of declaration forms Received Invoice wise details of pending declaration forms CA PRANAV KAPADIA 24

25 WCT TDS Form 424 Old Form 405 replaced by e-form 424 Yearly return due on 30 th June E-filing by registered TIN holders E-filing by Unregistered Deductors CA PRANAV KAPADIA 25

26 Thank You CA PRANAV KAPADIA 26