FILING OF
RETURNS IN E-C TAX NEW PORTAL
BY DEALERS AND
BY GOVERNMENT DEPARTMENTS
In
the newly introduced e-C Tax new Portal, the following returns were prescribed
for disclosing the turnover monthly, quarterly and annual. The monthly and
annual returns relates to business sector, industrial sector and service
sector. The quarterly return relates to
Government Departments.
As
per Section 22 (3-A) of the Tamil Nadu Value Added Tax Act, 2006 (As per Act
No.13 of 2015 came into force with effect from 29.1.2016), the casual traders
and the dealers in respect of whom the relevant assessment year is the first or
the last year of business, shall be assessed on the basis of the scrutiny of
the returns with reference to the books of accounts, registers, records and any
other document and on such enquiry as the assessing authority may consider
necessary.
Filing of Form I
- Value Added Tax monthly Return
The
Form I – Value Added Tax Monthly Return has to be filed by the dealers who
effects:
Local
purchases of Fourth Schedule Exempted Goods and also Exempted goods by
Notification and Exempted goods by Notification for seller
|
Local
sales of Fourth Schedule Exempted Goods and Exempted goods by Notification
and Exempted goods by Notification by Seller
|
Local
purchases of First Schedule and Second Schedule Taxable Goods from the
Registered dealers within the State with sufferance of tax
|
Local
Sales of First Schedule and Second Schedule Taxable Goods to the Registered
dealers and Unregistered dealers within the State
|
Local
purchases of Taxable Goods from the Unregistered Dealers or from the
Registered Dealers without sufferance of Tax under Section 12
|
|
Goods
received from Local Principal to be declared by Local Agents
|
Sales
of First Schedule Goods on behalf of a Local Registered Principal as Agent
Sales
of First Schedule Goods by Agents (to be declared by the local Registered
Principal Dealer)
|
Local
purchases from Compounding dealers and also from the dealers whose sales
turnover is below threshold limit
|
Sales
to local Special Economic Zones at Zero-Rated sales within Tamil Nadu.
|
Inter-State
purchases with or without C Form including Transit sales i.e. EI & E-II
sales etc.
|
Inter-State
sales of First Schedule Goods and Second Schedule Goods with or without C
Forms
|
Local
Purchases for export against Form H
|
Sales
to Schedule V notified organisations within the State of
|
Branch
Transfer inward (Form F)
|
Branch
Transfer Outward
|
Consignment
Transfer inward (Form F)
|
Consignment
Transfer Outward
|
Own
Imports from other Countries
|
Exports
sales to other countries
|
Purchases
of Capital Goods
|
Every registered dealer liable to pay tax
under the Act, other than a dealer who opted to pay tax under sub-section (4)
of section 3 or section 6 or section 8 including agent of a non-resident dealer
and casual trader, shall file return for each month in Form I on or before 20th
of the succeeding month, to the assessing authority in whose jurisdiction his
principal place of business or head office is situated. Such return shall be
accompanied by proof of payment of tax.
Provided
that a registered dealer whose taxable turnover in the preceding year is two
hundred crores of rupees and above, shall file the above returns on or before
12th of the succeeding month to the assessing authority in whose jurisdiction
his principal place of business or head office is situated. Such return shall
be accompanied by proof of payment of tax:
Every
principal or head office shall include the turnover relating to the goods
consigned to the agent and file a return in Form I for each month on or before
20th of the succeeding month with the particulars of name and full address of the
agent, value of the goods sold or purchased, tax collected on sale and tax paid
on purchase by the agent along
with proof of payment of tax.
In
case of dealers making electronic payment of the tax, the dealers whose taxable
turnover in the previous year is two hundred crores of rupees and above, shall
file the returns on or before 14th of the succeeding month along with proof of
payment of tax and the dealers shall file the above returns on or before 22nd
of the succeeding month along with proof of payment of tax.
If
a dealer having filed a return, finds any omission or error therein, other than
a result of an inspection or audit or receipt of any other information or
evidence by the assessing authority, he shall file a revised return rectifying
the omission or error within a period of six months from the date of the relevant
period to which the return relates.
Where, as a result of such revised return, the tax payable by the dealer
increases, the dealer shall furnish along with such revised return, proof of
payment of tax and interest due thereon under sub-section (4) of Section 42 of
the Tamil Nadu Value Added Tax Act, 2006.
Filing
of Form 1 – Form of Return under Central Sales Tax Act, 1956.
Dealers
effecting Inter-State Purchases and Inter-State Sales, Imports goods into
India, Export of Goods outside India, effecting Stock Transfers outside the
State and into the State, effecting Consignment sales, Penultimate Sales, Transit
Sales, and High Sea Sales should submit Form 1 Return under Rule 5 of the
Central Sales Tax (Tamil Nadu) Rules, 1957 along with the monthly returns under
the Tamil Nadu Value Added Tax Act, 2006 returns before the 20th of
the succeeding month along with proof for payment of tax.
Filing of Form
WW - Audit Report under Section 63-A of the
TNVAT Act, 2006.
FILING OF FORM WW
AUDITED STATEMENT OF
ACCOUNTS.
Every registered
dealer whose total turnover including zero rated sale and sales in the course
of inter-State trade or commerce as specified in section 3 of the Central Sales
Tax Act, 1956 (Central Act 74 of 1956) in a year, exceeds one crore rupees,
shall get his accounts in respect of that year, audited by an Accountant
(Chartered Accountant or Cost Accountant) and submit a report of such audit in
the prescribed Form (Form WW) in duplicate, duly signed and verified by the
Chartered Accountant or Cost Accountant, to the Assessing authority, within 9
months (i.e. on or before 31st December) from the end of the
Financial year (i.e. 31st March).
If the registered dealer fails to get his
accounts audited and submit a report of such audit within the period of 9 months from the end of the financial year,
the Assessing authority may, after giving a reasonable opportunity of being
heard, direct such registered dealer to pay by way of penalty of sum of rupees ten thousand, in addition to any tax
payable, in respect of the said period:
Provided that, this
section shall not apply to the departments of Central and State Governments,
local authorities, the railway administration as defined under the Railways Act
1989 (Central Act 24 of 1989), the Tamil Nadu State Road Transport Corporations
and similar such registered dealers, as may be notified by the Government.
Filing of Form
I-1 - Value Added Tax Annual Return
The
Form I-1 – Value Added Tax Annual Return has to be filed by the dealers who are
doing local sales and local purchases of exempted goods alone. The exempted goods means goods mentioned in
Schedule IV of the Tamil Nadu Value Added Tax Act, 2006 and Goods exempted by
Notification and the sale of goods by Notification for Seller by the Government
of Tamil Nadu.
The
dealer should furnish Details of Local Purchases with the details of Goods
purchased from the Registered Dealer and from the Unregistered Dealer and Local
Sales with the details of Goods sold to the Registered dealer and Unregistered
Dealer with details of TIN, Invoice Number, Invoice Date, Commodity Code and
Purchase Value and Exemption Type details. Form I-1 Return has to be filed on or before 20th day of May of the succeeding year.
Filing of Form K
- Value Added Tax Monthly Return
Every dealer, who effects second and subsequent sales of goods purchased within the
State, whose total turnover relating to taxable goods, for a year, is less than rupees fifty lakhs, may, at his option, instead of paying tax under Section 3 (2) of the Tamil Nadu Value Added Tax
Act, 2006, pay a
tax, for each year, on his turnover
relating to taxable goods at such rate not exceeding one per cent, as may be notified by the Government. Such option
shall
be exercised by the dealer
within
30 days from the
date of commencement of this Act.
Provided that
the dealers opted to pay tax at compounding rates shall not collect any amount
by way of tax or purporting to be by way of tax.
Provided
that
the dealers opted to pay tax at compounding rates shall not be entitled to input tax credit on goods purchased by him:
Provided also that the dealers opted to pay tax at compounding
rates not be entitled to input tax credit on the goods purchased by him.
To pay tax under Composition
Scheme the dealers should opt to pay Tax under Composition Scheme in Form K-1
(i.e. Application form for dealers opting for composition scheme under Section
3(4), 6, 6(A) or 8 with the details of composition).
The
Form K – Value Added Tax Monthly Return has to be filed by the following types
of dealers.
·
Dealers who have opted to pay tax under Composition Scheme under Section
3 (4) of the Tamil Nadu Value Added Tax Act, 2006.
·
Dealers who have opted to pay tax under Section 6 of the Tamil Nadu
Value Tax Act, 2006 who were doing 1) Civil Works Contract 2) Civil Maintenance
Works Contract and 3) All other Works Contract.
·
Dealers who have opted to pay tax under Section 8 of the Tamil Nadu
Value Added Tax Act, 2006 which includes 1) Hotels, 2) Restaurants, 3) Sweet
Stalls, 4) Clubs, 5) Caterers, 6) Bakeries, 7) Any other Eating Houses.
· Dealers who have opted to pay tax under Composition Scheme under Section
6-A of the Tamil Nadu Value Added Tax Act, 2006 which includes Brick Chambers,
Brick Kilns under slab rates.
Every registered dealer who opts to pay tax
under Section 3 (4), Section 6, Section 6-A and Section 8 shall file a return
for each month in Form K on or before 20th of the succeeding month to the
assessing authority along with proof of payment of tax.
If
a dealer having filed a return, finds any omission or error therein, other than
a result of an inspection or audit or receipt of any other information or
evidence by the assessing authority, he shall file a revised return rectifying
the omission or error within a period of six months from the date of the relevant
period to which the return relates.
Where, as a result of such revised return, the tax payable by the dealer
increases, the dealer shall furnish along with such revised return, proof of
payment of tax and interest due thereon under Section 42 (4) of the Tamil Nadu
Value Added Tax Act, 2006.
Filing of Form M
- Statement of Quarterly Turnover
Every
department of Government liable to pay tax under the Act shall file a statement
in Form M showing the total and taxable turnover for each quarter on or before
20th of the month succeeding the quarter along with proof of payment of tax.
April
to June 20th
July
July
to September 20th
October
October
to December 20th
January
January
to March 20th
April
Filing of Form N
- Return showing the details of the
amount received
or returned due to Price variation
If
a dealer receives or returns in any year any amount due to price variation, he
shall within thirty days from the end of the year submit a return in Form N to
the assessing authority.