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(1)
Application for VAT registration has now to be filed in
the modified Form No.1 and that of Banks in Form No. 1H.
(2)
Since there are no additional fields in the new Form 1,
there will not be any problem for data entry in KVATIS
in the existing format. Data entry can be done in the
relevant fields as per the new format.
(3)
In case of taxpayers opting to pay at compounded rate
under section 8, the application shall be in Form 1D for
the "Other than Works Contractors" category,
and in Form No 1DA in the case of Works Contractors.
(4)
Different formats have been prescribed for giving
permission for payment of tax compounded rate.
The
permission shall be issued in the case of
i)
Works contractors u/s 8(a) in Form No. 4D
ii)
Crusher units u/s 8(b) in Form 4DA
iii)
Cooked food other than Bar attached hotels u/s 8(c)(i)
in Form No 4DB
iv)
Cooked food in Bar attached hotels u/s 8(c)(ii) in form
4DC
v)
Video libraries u/s 8(d) in form 4DD
vi)
Medicines u/s 8(e) in Form No 4DE, and
vii)
Gold jewellery u/s 8(f) in Form No 4DF.
(5)
Changes have also been effected in the bill formats in
tune with the amendments to the statute. Form
8A has been omitted. Those who were issuing bills in
Form 8A may now use Form 8.
(6)
Bill formats for works contractors have also been
modified. Contractors who are paying tax u/s 6 have
to issue bills in Form 8C and those operating under
section 8, in Form 8CA.
(7)
The bill format prescribed for presumptive tax payers, Form
8B, has also been modified.
(8)
In the case of others where no specific format is
specified, they may use Form 8B with suitable modification.
(9)
Where tax collection is not authorized under the Act the
respective column shall be omitted.
(10)
Dealers collecting cess and compounded tax payers
entitled to collect tax may add additional columns or
rows suitably in the existing formats.
(11)
Where dealers use different series of
bills/invoices/cash memos, they shall be numbered
alphanumerically
as prescribed in Rule 58(11A) and no relaxation
whatsoever shall be permitted.
(12)
Return format in Form 10 has been modified and a new
Form 10B has been prescribed exclusively
for works contractors of all categories. Dealers who
undertake construction or development
of flats, apartments and villas are required to file a
declaration in Form 49 along with Form
10B.
(13)
One highlight of these reforms is that the return under
the CST Act & KVAT Act has been combined,
and that dealers liable to file returns under the CST
Act will now have only to file the return
in duplicate, superscribing one copy as 'KVAT Copy' and
other as 'CST Copy'. CST (Kerala) Rules,
1957 have been amended accordingly. All other categories
need to file only a single copy of
the returns. The new format of the return shall be
compulsorily used for returns for the month of April
2008 due in May 2008.
(14)
Formats have been prescribed for filing Purchase
Statement and Sales Statement and Closing Stock
Inventory along with the returns /annual return.
Uniformity in data is critical in the context of computerization
and hence this change: dealers shall file Purchase and
Sale statements in Form 52
and Closing Stock Inventory in Form 53. Annual return
for 2007-08 may be filed in the prerevised format;
however, Closing Stock Inventory in Form 53 shall be
insisted.
(15)
Return Form 11A intended for clearing, forwarding,
transporting, shipping and courier agencies has
also been modified. These categories are required to
file returns on a monthly basis.
(16)
All refund application formats in Form 21B, 21C and 21CC
have been modified suitably to meet the
requirements of verification so as to speed up
processing and release of eligible refunds.
(17)
Filing of Closing Stock Inventory in Form 54 in respect
of the VAT-suffered goods locally purchased
during the year to which the application for refund
relates, in Form 21CC is mandatory.
Only
applications containing all the requirements need be
accepted.
All
officers are directed to see that the above changes are
enforced with immediate effect .
Commissioner
ERRATUM
TO CIRCULAR No.14/08
The
words and figure ‘Form 8B’ in Para 7 of the Circular
shall be read as ‘Form 8D’.
Commissioner
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