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Form VAt-16

(Querist) 16 August 2010 This query is : Resolved 
I am a regd dealer in the state of Punjab. I have crossed annual turnover limit of Rs. 1 crore in the year 2009-10. But my annual tax liability does not exceed Rs. 2 Lac. But by mistake i Have filed monthly vat return on Form Vat-16 for the m.o April-10 & May-10. Now I have come to know that i am not eligible for filing monthly vat return as my annual tax laibility does not exceed Rs. 2 Lac. Now what should i do. Should i continue to file monthly vat return for the rest of months or to stop filing with the immediate effect.
AMIT BAJAJ ADVOCATE (Expert) 16 August 2010
you should stop filing monthly return now. doesnot matter if u have filed for april or may. You are not liable to file monthly return as your tax liability doesnot exceed rs 2 Lakhs


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