Presentation by CA PRANAV KAPADIA - ctconline.org Pranav Kapadia...Presentation by CA PRANAV KAPADIA...

MVAT -E-FILING CA PRANAV KAPADIA 1

ISSUES IN E-FILING UNDER MVAT ACT

Presentation byCA PRANAV KAPADIA

For Seminar on e-Filingby – The Chamber of Tax Consultants

17-08-2013

E-Services under MVAT

Registration Returns & AnnexuresSupplementary J1-J2Application for Declaration FormsForm 704 - Audit Report Form 501 - Refund ApplicationForm 424 – WCT TDS Return



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 234 - PSI dealers holding Entitlement CertificateForm 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)


Periodicity of filing returns under MVAT/CST

Monthly, Quarterly, Half YearlyAs Displayed on Website - Rule 17(4)(e) -Notifn. VAT-1511/CR 84/Taxation-1 dtd 13-09-11 Retailers under Composition – HLY Newly Registered Dealers – QLYPSI Dealers - QLYDeemed Dealers u/s2(8) – HLY


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 DealersHalf Yearly dealers can make payment in designated Branches of SBI (SBI letter Ref. No. GBD/SCC/974 dtd. 21-09-2011 )Trade Cir. 19T dtd 09-11-12 – Clarification w.r.t Due Date on Sunday or Public Holiday.


Due Dates for E-filing– upto 31-03-12 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


Due Dates for Efiling-from 01-04-12 - for Dealers liable for MVAT Audit

Notifn. VAT 1511/CR 138/Taxation-1 Dt. 5th Dec 2011Trade Cir. 3T dtd 27-02-12, 7T dtd 24-04-12“Eligible for 704” - YesIf 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


Due Dates for Efiling-from 01-04-12 -Dealers Not liable for MVAT Audit

“Eligible for 704” – NoFor Mth/Qtr/Half Year ending 31st 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 31st March Yearly data in the AnnexuresPeriodic Data in the Returns Not Applicable to Dealers opting for Composition u/s 42(1), (2) and (3A).


Due Dates for Efiling-from 01-04-12 -Dealers Not liable for MVAT Audit

“Eligible for 704” - NoFor Mth/Qtr/Half Year ending other than on 31st

MarchAnnexures C,D,G,H,I,J-1,J-2 not required to be

uploadedIf 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


Penalty – Late Filing fees

Non-appealable Penalty u/s 29(8) (upto 31-07-12) for late filing of Return is Rs.5,000/- per return.Late Filing Fees u/s 20(6) (w.e.f 01-08-12) -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


E-Filing of Returns

Enrollment for e-services – One Time ActivityDownload – Forms – Electronic forms - e-return forms - Form 231, Annexures(for e-704 not eligible dealers), Form CST III-ETools –Macro –Security-Medium or LowOff-line filling of Forms & Validation of File If error shows, open Error Sheet and correct the errorsOn Validating again, –Rem.txt file is generated in My Documents folderDealer Login & PasswordE-Services - E-Returns - Browsing and uploadingAcknowledgement


Revised Returns

Sec.20(4)(a) : Within 10 months from end of the year to which the return relatesSec.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 01-05-2011

Issues :

Return not allowed to be uploaded without payment of late filing fees or acceptance of liability to pay the late filing feesIf 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


Issues :

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



Prof.Tax PTR

E-filing mandatory wef 01-02-2011 for employers having tax liability more than Rs.20000/- in pr.yr.– Cir. 1T of 2011

E-filing mandatory for all employers from 01-08-2011 Optional E-payment facility for PTE and PTR from 01-01-2012 – Cir. 1T of 2012

Salary p.m. Prof Tax(PTR) p.m.upto Rs.5,000/- NIL5,001/- to 10,000/- 17510,001/- & above 200 (300 for Feb.)


PTR-Periodicity wef 01-04-11

If Tax liability is less than Rs. 50000/- in previous year – Annual Rtn.

If Tax liability is more than Rs. 50000/- in previous year – Mthly Rtn.

Due date for payment of tax and filing of returns – within 30 days


PTR - Issues

Salary Rs 15000/- for Nov’12 is paid on 5th

Dec’12. The PTR of Rs.200/- payable for the Mthly Rtn for the period 01-12-12 to 31-12-12 is due on 31-12-12 and the return should contain the data for the salary paid for the month of Nov’12 . Challan should be for the period 01-12-12 to 31-12-12

Tax payable for the Annual return for the period 01-04-12 to 31-03-13 is due on 31-03-13 and the return should contain the data for the salary paid for the months of Mar’12 to Feb’13.


E-Declaration Forms application

Download – Forms – Electronic forms –- e-applications for CST formsOff-line filling of FormsE-Appln for CST Forms C / F / H / E-I/ E-IILocation of Main POBCST RC/TIN of Form accepting DealerPeriod of Transaction (for F Forms -Mthly,for Others-Qly)Total No. of TransactionsTotal Value of TransactionsDescription of Major Goods


E-Declaration Forms application

Validation of File If error shows, open Error Sheet and correct the errorsOn Validating again, –Rem.txt file is generated in My documents folderDealer Login & PasswordE-Services - E-CST Declarations Browsing and uploadingAcknowledgement

Declaration forms - Issues

Matching of data in returns with the application Hly Rtns – Qly FormsDebit/Cedit Notes, Goods returnSale bill of March but purchases booked in AprilCorrection/Rectifications



E-Registration Applications

On-line Application for MVAT & CSTRequest 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 3.5.2 ( works fine with IE 6 SP2 , FireFox 3.0)


E-Registration

LocationName of BusinessName of ApplicantStatus of ApplicantPANSelect : MVAT , CST ActRequest ID & Retreival


E-Registration

Filling the form on-lineAcknowledgementPhysical Submision of Form & DocumentsPersonal Attendance of Applicant for Photo-sign.Obtaining TIN Allotment LetterE-services enrollment & Submission of its Acknowledgement.


Refund Application - Form 501

To Apply for Refund within 18 months from the end of the period.Exporter / General refundInvoice-wise Purchase details on which set off is claimed.Details of declaration forms Received Invoice wise details of pending declaration forms

WCT TDS – Form 424

Old Form 405 replaced by e-form 424Yearly return due on 30th JuneE-filing by registered TIN holdersE-filing by Unregistered Deductors


Thank You


Presentation by CA PRANAV KAPADIA - ctconline.org Pranav Kapadia...Presentation by CA PRANAV KAPADIA...

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