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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To avoid this mistake, seller should issue the invoice timely and back dated invoice should not be issued. But now there is a column in Annexure 2A dvzt asks whether this purchase relates to previous quarter. Selling Dealer having shown more amount of sales in Annexure 2B and the purchase amount being correctly entered by the Buying Dealer, the mismatch report will be generated without any penalty being levied on buyer.
Procedure for Annexure 2A 2B and 2C 2D in DVAT
Thus they can avoid this mismatch by filling this column. 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. 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.
If the dealer is aggrieved with the order passed by Appellate Authority then he can file second appeal to Sales Tax Appellate Tribunal.
Mismatch Report after filing the DVAT Return | Klaggarwal
Thus, Buying Dealer has claimed more input and he dvxt be penalised for no default on his part. Click Here The Companies Act,a historic legislation which intends to improve corporate governance and empower shareholders. We would be happy to help. Amount of penalty that can be levied on Dealer: Regulators too are increasingly relying on professionals in achieving better governance and Independent professionals are seen as an extended arm of the government. Above, reasons for Mismatch have been described below: 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.
B in his form 2B correctly shown the sales at. 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. dgat
At what rate Interest would become payable by the dealer. Is it possible to waive off Interest in an appeal or otherwise. Who receive notice of Mismatch. You may also mail your queries at mail klaggarwal. Mismatch 1 Difference in 2v amount of Sales and Purchases: However, in reverse case i. All Types of Sales, whether local, central or export is shown in Annexure 2B. Section 92 of the Companies Act, requires every company to prepare an Annual Return, a comprehensive document which contains information of a company rela….
This type of error occurs due to products having multiple tax rates purchased from a single dealer or issue of one invoice for multiple tax rated products. Popular posts from this blog. The Act has incorporated a framework which is based on self-regulation but with enhanced disclosures and accountability on the part of companies and their managements.
dvaf Feed the data in return carefully. Unknown 25 June at To correct the deficiency, dealer has to revise the Form DVAT along with explanatory note specifying the mistake or error for which a revised return has to be filed. Feed the data in return carefully and before submitting the return, check whether all invoices have been entered or not.
How to Rectify DVAT 2A-2B Mismatch
Following details are required to be given in Form2A. Is it possible to waive of Penalty. Following can be the reasons of mismatch. The details so filed are cross checked across dealers whose TIN is mentioned in the return and a mismatch report 2A is generated. Click Here Penalties and Prosecutions Default forn complying with provisions of or with conditions prescribed under the Income-tax Act would attract certain penalty and in critical cases prosecutions as well.
Check the invoice properly and feed the data in return carefully. 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.
NoNot at all. Yes, It is possible to waive off penalty dvta an appeal made to Appellate Authority with 30 days from the date of order.
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 the 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.
In this case, buyer will be penalised for no default on his part but if this would be the reverse case, the mismatch report will be generated without any penalty being levied on the buyer. This type of problem mainly occurs in case of invoices with the last date of the tax period as the invoice date or on receipt of invoices after the last date of the tax period to which such invoice pertains.
The difference in Vat value Rs. The document will provide you information about the punishable offences, prosecutions and the quantum of penalties that can be imposed under the law. 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. Should you need any support, fill the query form below. P ost written by CA Usha Garg. It can better be understand with the help of an illustration.
Sometimes, Input tax credit is taken on tax charged on retail invoice and thus wrong input claimed on retail invoice will result in mismatch. It may be possible that the Selling Dealer has shown lesser amount of sales in Annexure 2B due to typing mistake but the Buying Dealer shows the correct more amount of purchases in Annexure 2A.