KARNATAKA VAT - Audit

Anil (Querist) 16 June 2008 This query is : Resolved
1) Is VAT audit mandatory in Karnataka for private companies who get their books audited under Companies Act as well as income Tax Act?

2)When is the last date for filing of Form 240 under Karnataka VAT?

3)Once an establishment is registered under Karnataka VAT should it be renewal every year like it was being done earlier under the Karnataka sales Tax Act? If yes, please let me know the Form to be used, the last date for filing such form as well as the fees to be paid for renewal and the cheque in whoes favour renewal fees is to be paid

4) Can one submit monthly KARNATAKA VAT form 100 online?

Kindly answer the questions pointwise in the order they are asked

Thank you

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Guest (Expert) 16 June 2008
1.Yes VAT audit is mandatory.
2.six months from end of the year (31.12)
3.Yes, renewal every is to be done in Form VAT 6.
4.Not yet available. May start this year in Bangalore.

Anil (Querist) 18 June 2008
Thank you very much sir.

Please let me know the last date for filing of Form VAT 6. Also please let me know how much renewal fees is to be paid and the person in whoes favour the cheque has to be paid.

Guest (Expert) 19 June 2008
Rs.250/- and within 30 days from the commencement of the year.

Anil (Querist) 19 June 2008
Thanks.

S M Bhat (Expert) 23 June 2008
dear sir ,
i think Mr. Kotresh is not right in stating that, Form VAT -6 shall be filed within 30 days from the commencement of the year.As per Rule 38 ( 8) of KVAT Act " if there is any change" is inserted, that means if there is any chane in constitution or any information provided in Form VAT 1 at the time of registration then only Form VAT 6 shall be attached with last Monthly return of the financial year. ( Within 20 days from commencement of financial year)

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