Vat security deposit in west bengal


Respected Experts,

I have deposited Rs. 25000/- as security deposit in January 2013 for voluntary registration under West Bengal VAT Act 2003. When should I adjust that amount, under what section and what is the procedure to adjust this?

Pls reply me sir....

 
Reply   
 

Mr.Subhajit,

    The amount furnished by you is  security deposit for proper payment of tax under WBVAT Act. It is a deposit refundable on closure of your business after veryfing tax liablity if any. If the deposit is  in the form of NSC, FD etc, it will be refunded on maturity after collecting fresh security. Thanks.


 
Reply   
 



Refundable after 1 year or 2 year of registration  as the case may be, as per the Trade Circular No. 07/2015 dated 13-05-2015 issued by Commercial Tax Commissioner of West Bengal. You have to apply at your concerned Charge Office, and after necessary adjustment, the concerned officer will issue refund adjustment order (RAO) if applicable.

 
Reply   
 

LEAVE A REPLY


    

Your are not logged in . Please login to post replies

Click here to Login / Register  



 

Search Forum:








×

  LAWyersclubindia Menu