MVAT periodity for new dealer.

Querist : Anonymous (Querist) 14 September 2010 This query is : Resolved
hi,
i am a newly registered dealer what is my periodity? it is not display on official website. is it quarterly or half yearly?

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R.Ramachandran (Expert) 16 September 2010
Dear Anonymous,
Please indicate in which State you have got yourself registered as a dealer.

R.Ramachandran (Expert) 16 September 2010
I am sorry, I did not note the Heading which says MVAT - i.e. Maharashtra VAT Act.
In terms of Rule 17(4) of MVAT Rules, 2005 (as amended), there are 4 situations. However, since you state that you have got newly registered, I assume that your tax liability would be less than Rs. 1 lakh.
For this the periodicity is 6 months as indicated below:
1. If the tax liability is Rs. 1 lakh or less (without any entitlement for refund) or when the entitlement for refund during previous year was Rs. 10 lakhs or less - periodicity of return is 6 months.
Due date is 21 days from the end of six month.

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