What are Annexure 2A-2BQuarterly purchase and Sales Details are to be submitted to VAT Department in Annexure Procedure for Annexure 2A 2B and 2C 2D in DVAT Form Name and Due Date of VAT Return. Nil 2A & 2B can be filed after loging into the DVAT website and then go to Approval forms under the heading file 2A & 2B and check the option. DVAT – Annexure 2A and 2B. Download Preview. Description: DVAT- Purchase and Sales Summary #xls. Submitted By: Madan Kumar Misra.
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At what rate Interest would become payable by the dealer. All Types of Purchases, whether local, central or import is shown in Annexure 2A. To avoid this mistake, seller should issue the invoice timely and back dated invoice should not be issued.
If the dealer is aggrieved with the order passed by Appellate Authority then he can file second appeal to Sales Tax Appellate Tribunal. Feed the data in return carefully. Check the invoice properly and if it is tax Invoice and TIN of both dealers is mentioned on the same, only then input should be taken by the buyer.
Thus they can avoid this mismatch by filling this column. If seller does not show the sale invoice in Annexure 2B but buyer has already shown the purchase invoice in Annexure 2A, more input has been claimed by the buyer that has not been passed by seller giving rise to mismatch report.
Procedure for Annexure 2A 2B and 2C 2D in DVAT
Check the invoice properly and feed the data in return carefully. Section 92 of the Companies Act, requires every company to prepare an Annual Return, a comprehensive document which contains information of a company rela….
If the dealer fails to pay VAT demand within the time as may be specified in the demand order, then he shall be liable to pay Interest in addition to VAT payable at the rate of 1.
The buyer can view the report on the website of department immediately after filing of Annexure 2B by corresponding sellers. What are the reasons of Mismatch. The difference in Vat value Rs. Determination of undisclosed income of block period Section BFA 2. P ost written by CA Usha Garg.
Click Here The Companies Act,a historic legislation which intends to improve corporate governance and empower shareholders. The Act ddvat incorporated a framework which is based on self-regulation but with enhanced disclosures and accountability on the part of companies and their managements.
After assessment of Annexure 2A and 2B, following types of result get displayed: Popular posts from this blog.
Vat form 2a and 2b
Thus, Buying Dealer has claimed more input and he will be penalised for no default on his part. However, in reverse case i. It can better be understand with the help of an illustration. But now there is a column in Annexure 2A which asks whether firm purchase relates to previous quarter.
Above, reasons for Mismatch have been described below: This may happen because of the following reasons: The corporate sector will be required to exhibit responsible self-regulation and corporate governance on their part, which necessitates the services of independent, competent and responsible governance professionals.
Unknown 25 June at Following details are required to be given in Form2A. Sometimes, seller shows the net amount of sales in Annexure 2B but buyer shows the gross amount of purchases in Annexure 2A and purchase return in Annexure 2D and also show cvat amount of purchase return in DVAT ,thus when cross checking of the Annexure 2A of buyer and Annexure 2B of seller is done, mismatch arises and vice-versa.
Sir ,please tells me procedure step by step how to revised Dvat return in case of mismatch report. What is the amount of penalty that can be levied by VAT dvxt in respect of mismatch report.
A purchase goods from Mr. All Types of Sales, whether local, central or export is shown in Annexure 2B. You may also mail your queries at mail klaggarwal. Is it possible to waive of Penalty.
Mismatch Report after filing the DVAT Return | Klaggarwal
Since, it is the responsibility of the purchaser to provide correct information to the department as he is willing to claim Input Tax Credit against output VAT liability. Mismatch 1 Difference in the amount of Sales and Purchases: The details so filed are cross checked across foorm whose TIN is mentioned in the return and a mismatch report 2A is generated. NoNot at all. Following can be the reasons of mismatch. A in his form 2A wrongly shows. The document will provide you information about the punishable offences, prosecutions and the quantum of penalties dvt can be imposed under the law.
Download DVAT – Annexure 2A and 2B file in xls format
Time period to revise the return is within one year from the end of the financial year of tax period to which the original return relates. Yes, It is possible to waive off penalty through an appeal made to Appellate Authority with 30 days from the date of order. Click Here Penalties and Prosecutions Default in complying with provisions of or with conditions prescribed under the Income-tax Act would attract certain formm and in 2 cases prosecutions as well.
Sometimes, Input tax dvag is taken on tax charged on retail invoice and thus wrong input claimed on retail invoice will result in mismatch. Regulators too are increasingly relying on professionals in achieving better governance and Independent professionals are seen as an extended arm of the government.
No Mismatch Type 2: If the mismatch arise due to mistake in DVAT return then it can easily be rectified by revising the return either by Seller or by Purchaser, if the revise period is still available. B in his form 2B correctly shown the sales at.