VAT/CST Return

Introduction
VAT (Value Added Tax)
is governed by respective state Acts. Every state has a separate and distinct VAT act reserved for their state.
CST (Central Sales Tax) is governed by Central Sales Tax Act, 1956. This tax is governed by a single central act, though the chargeability is state specific.
Every person responsible for collection and deposit of Value Added Tax formally known as Sales Tax has to furnish details in quarterly/half yearly/annually details in a prescribed form and within prescribed time. Our Experts at Chawla Associates assist their clients in completing their compliance related to formalities in most efficient manner taking the hassle away enabling them to concentrate on their core business needs.


Registration under Act?

VAT (Value Added Tax) registration is compulsory for dealers having turnover exceeding Rs 5 lacs (or increased limit of Rs 10 lacs in some states).On registration, such dealer is allotted a unique 11 digit TIN (Taxpayer’s Identification Number).

CST (Central Sales Tax) registration is not dependent on amount of turnover. Simply put, registration of dealer becomes compulsory once he affects an inter-state sale.


Due Dates of Returns:

VAT (Value Added Tax) returns are due on 20th of the succeeding month following the relevant month i.e. For June, 2012, the due date of VAT return is 20th July, 2012.
CST (Central Sales Tax) returns due date are exactly similar to VAT return due dates i.e. 20th of the succeeding month following the relevant month.