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Q.1<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 What are the types of return I need to file?<\/strong><\/p>\n Ans.<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 There is no change in type of returns. You are required to file the same type of returns which you have been filing until now.<\/p>\n Q.2<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Should I use different annexure for every return form?<\/strong><\/p>\n Ans.<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 No, you have to use single annexure template for multiple return forms under VAT Act and CST Act for same periodicity.<\/p>\n Q.3<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Is there any change in procedure for filing of returns?<\/strong><\/p>\n Ans.<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Yes, there is a change in the procedure for filing of returns.<\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n Q.4<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Are there any changes in the format of annexure and return?<\/strong><\/p>\n Ans.<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Sales and purchase annexures are replaced with annexures J1 and J2. In sales and purchase annexures, invoice wise data of sales and purchase is required to be entered. Copy and paste option is also available to insert the data in sales and purchase annexures. Return forms are same with addition of few new fields required for auto population.<\/p>\n <\/p>\n Q.5<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Where can dealer get the template of annexure?<\/strong><\/p>\n Ans.<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Annexure template can be downloaded from the website of MSTD www.mahavat.gov.in<\/u>.<\/p>\n Q.6<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Does dealer need to download return form?<\/strong><\/p>\n Ans.<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Dealer is not required to download return form as it will be auto populated from sales and purchase annexures.<\/p>\n Q.7<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Does dealer need to fill up return form after preparation of annexure?<\/strong><\/p>\n Ans.<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Dealer is not required to fill up the entire return form as maximum fields of return shall be auto populated in the preview return itself.<\/p>\n The \u201cPreview return\u201d is a facility where the dealer can get a preview of its return which will be auto populated once the sales and purchase annexures are uploaded. The fields which do not get auto populated from annexures shall be required to fill up manually. The activity of preparation of annexures and preview return shall be off line. If dealer agrees with the figures shown in preview return he may create the file for uploading on web-site. After uploading of such file, a draft return shall be prepared. If dealer is satisfied with this draft return then he has to submit it with payment thereby completing the process of filing of return.<\/p>\n <\/p>\n Q.8<\/strong> Does dealer need to insert the details of payment or RAO (refund adjustment order) in return?<\/strong><\/p>\n Ans.<\/strong> No, it is not required to key in the details of payment made before filing of return. The details of advance payment or RAO shall be auto populated in the draft return. It will not be shown in the preview return as it is prepared off-line.<\/p>\n <\/p>\n Q.9<\/strong> From which date the new annexure template and return forms format is to be used?<\/strong><\/p>\n Ans.<\/strong> The New Forms shall be applicable for the periods from 1st<\/sup> April 2016.<\/p>\n <\/p>\n Q.10<\/strong> What does mean transaction code asked in sales and purchase annexure?<\/strong><\/p>\n Ans.<\/strong> Transaction codes are meant for type of sales or purchase to be shown in the annexure.<\/p>\n For details please refer guide for filing of annexures.<\/p>\n Q.11<\/strong> The process seems to be such that a dealer cannot prepare and file his return himself. The Department or to say the system provided by the Department will prepare the Return. Thus, responsibility of preparing true and correct return is shifting from the dealer to the Department.<\/strong><\/p>\n Ans.<\/strong> No, the onus of filing correct and complete returns is on the dealers since the \u201cReturn\u201d generated is based on the data entered by the dealers in their sales and purchase annexures. The dealer has to prepare sales and purchase annexures and based upon these annexures the preview return is created where there is a provision of manual input. System shall summarize the data from annexures. Fields in the return shall be auto populated from summarized data.<\/p>\n The system shall auto populate draft return on the basis of annexure and manual input. Dealer has to verify and confirm the return. If the return is not correct and complete according to dealer then dealer has to modify its annexure or manual input.<\/p>\n Q.12<\/strong> Fields in the return are auto populated from the summarization of annexures. If dealer does not agree with the draft return shown by the system, whether Submission of draft return is compulsory?<\/strong><\/p>\n Ans.<\/strong> Submission of draft return is not compulsory. Fields in the draft return are auto populated from the summarization of annexures. If dealer does not agree with the draft return shown by the system then he may change the annexures.<\/p>\n Q.13<\/strong> Whether all type of dealers are required to file annexure of sales and purchase?<\/strong><\/p>\n Ans.<\/strong> Yes, all dealers are required to file annexures of sales and purchase in same manner. Form 232 filer is not required to file sales annexure.<\/p>\n Q.14<\/strong> Does dealer require to file sales and purchase annexure for NIL filing of return?<\/strong><\/p>\n Ans.<\/strong> Yes, even in case of NIL returns dealer has to file sales and purchase annexure. In such case, dealer has to put \u201c0\u201d (zero) value in the first row of sales and purchase annexure. Select applicable return form type i.e. 231 and transaction type 200. Validate annexure, preview return sheet shall be prepared with zero values. Prepare file for uploading. After uploading draft return shall be displayed with zero values.<\/p>\n Q.15<\/strong> Whether annexures are to be submitted in respect of sales and purchases supported with \u201cTax Invoice\u201d or all sales and purchases including sale\/purchase through cash memo, bills are to be reported?<\/strong><\/p>\n Ans.<\/strong> All sales and purchase transactions are to be mentioned in sales and purchases annexure. Each and every transaction of purchase\/sale of goods has to be reported in serial order.<\/p>\n Provided that Sales to consumer or URD buyer can be aggregated and Purchases from URD sellers can be aggregated in a single row where invoice numbers and date are not required to be entered.<\/p>\n Q.16<\/strong> Why it is necessary to collect information, about all items of sale and purchase, each bill\/cash memo wise (other than \u2018Tax Invoice\u2019)?<\/strong><\/p>\n Ans.<\/strong> As fields in return shall auto populate from sales and purchases annexure, it is necessary to provide all the information in respect of sales and purchases.<\/p>\n Q.17<\/strong> Many dealers do not route various expenses (involving purchase of miscellaneous goods) such as printing and stationery, repairs & maintenance, restaurant bills, staff welfare expenses, sundry expenses, etc., through Purchase Register These items are directly debited in respective heads of Profit & Loss A\/c, and, they do not claim any input tax credit on such items. Whether, it would be compulsory for all the dealers to disclose all such sales and purchases compulsorily through annexures?<\/strong><\/p>\n Ans.<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 To determine gross turnover of sales or gross turnover of purchases, it is expected that all purchases and sales should be reported in sales and purchase annexure.<\/p>\n Q.18<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Where to show the amount of Exports and Branch Transfer Out in Sales Annexure and Amount of Imports and Branch Transfer In in Purchase Annexure i.e in which column – Taxable Value, Value of Inclusive of Tax or Exempted Sales u\/s 41 & 8..<\/strong><\/p>\n Ans.<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Exports-<\/strong><\/p>\n \u00d8<\/sup> Should be shown in column \u201cE\u201d<\/p>\n Branch Transfer Out-<\/strong><\/p>\n \u00d8<\/sup> Should be shown in column \u201cE\u201d<\/p>\n Imports-<\/strong><\/p>\n \u00d8<\/sup> Should be shown in column \u201cE\u201d<\/p>\n Branch Transfer In-<\/strong><\/p>\n \u00d8<\/sup> Should be shown in column \u201cE\u201d<\/p>\n For further details, please refer steps for filing of annexures.<\/p>\n Q.19<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 In Which Columns to show the amount of Contractor and Sub Contractor deduction i.e. Tax paid by Sub Contractors or Principal Contractors in Sales annexure.<\/strong><\/p>\n Ans.<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Should be shown in column \u201cE\u201d, with the transaction type 480 or, as the case may, 490.<\/p>\n For further details please refer steps for filing of annexures.<\/p>\n Q.20<\/strong> What is the maximum time period for the confirmation of Debit Notes and Credit Notes? When unconfirmed Credit Notes and Debit Notes shall reversed?<\/strong><\/p>\n Ans.<\/strong> Seller may claim deduction on account of sales return or rate difference or discount in the return. The claim shall be allowed in current return. If the buyer does not confirm such deductions till subsequent return, then those deductions shall be reversed in next return.<\/p>\n Claim of \u201cPurchase Return\u201d does not require any confirmation from seller.<\/p>\n Q.21<\/strong> How to present claim of set off under Rule 52(B) i.e. Set off on purchases of Tobacco and Soft drinks \/Aerated Beverages. As per Rule 52(B) we have to claim set off on Tobacco and Soft drinks\/Aerated Beverages on the basis of actual consumption.<\/strong><\/p>\n Ans.<\/strong> Normally set-off is admissible when the purchases are booked in the accounts. According to the provisions u\/r 52A and 52B, the set-off is admissible when the goods are actually sold. In some cases it is likely that the goods are not sold in the same periodicity as that of return, therefore set-off on such goods is not admissible. In such cases the dealer should show such set-off in reduction column.<\/p>\n Q.22<\/strong> Please explain how to show the purchases of said goods in Purchase Annexure and how to claim the set off of the said purchases in respective folders.<\/strong><\/p>\n Ans.<\/strong> Business is an ongoing concern, so in the next return period, it is most likely that the dealer may have the purchases and sales of goods from the stock of purchases of previous period. Now under such circumstances, for this period the dealer has to show deduction of set-off after claiming the set-off on sales which are eligible for set-off.<\/p>\n In certain cases, there might be a situation that dealer may not have any purchases and amount for claim of set-off is not available. For such exceptional scenario, it is advised that the dealer should revise its return of previous period and carry forward the set-off to claim it in the next period. It may happen in case of last return, where the dealer is closing the business or discontinued the purchases.<\/p>\n Q.23<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 In case of Goods Return figures, please confirm whether negative values can be accepted?<\/strong><\/p>\n Ans.<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Negative values shall be accepted in return.<\/p>\n Q.24<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 In case of Branch Transfer there is no such concept of Goods return under Law and we have to show the same under Stock in from Outside Maharashtra state and issue F Form for the Same but in case of Sales Annex there is provision for Sales Return for Branch Transfer and Credit Note for Branch Transfer also.<\/strong><\/p>\n Ans.<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The\u00a0\u00a0 transaction\u00a0\u00a0 type\u00a0\u00a0 \u201c300\u201d\u00a0\u00a0 is\u00a0\u00a0 applicable\u00a0\u00a0 for\u00a0\u00a0 Branch Transfer\/Consignment Sale. In case of Branch Transfer, if goods are returned by branch then it can be sent by branch transfer mode also. In case of consignment sales, dealer has to claim goods return.<\/p>\n Q.25<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 C forms are issued on the basis of CST Purchases shown in return filed by us. There are chances that the OMS Purchases for the month of June may be return in the month of July or August and that will result in reduction of CST Purchases for the month of July or August. We have to issue C form for full amount of CST Purchases and that will result in mismatch in Form applied for and CST Purchases shown in the Return net of Goods Return. Please clarify how this position will be tackled in the amended form issued by the department for the month of April, 2016 onward.<\/strong><\/p>\n Ans.<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 C Forms will be issued as per the OMS transactions disclosed in the purchase annexure. If the OMS transaction is not disclosed in a particular quarter, then for such transaction, C form will be issued in the subsequent quarter.<\/p>\n Q.26<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The developers who pay composition tax under section 42(3A) cannot issue tax invoice to the customers. Also the composition tax is calculated @1% of the agreement value or market value of property whichever is higher and e-payment of composition amount is required to be made in the return period in which such agreement is registered.<\/strong><\/p>\n Ans.<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Transaction type for such transaction is 450.<\/p>\n Q.27<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 In such scenario how and where can the developer give sales invoice wise information when there is no issuance of sales invoice showing value equivalent to higher of agreement value or market value of property at the time of agreement registration?<\/strong><\/p>\n For details please refer steps for filing of annexures.<\/p>\n Q.28<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 How and where to show the value and composition VAT amount pertaining to agreement for sale of flat that is cancelled by the customer\/s in the subsequent months?<\/strong><\/p>\n Ans.<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 It can be shown by way of credit note with transaction code 690.<\/p>\n For details please refer steps for filing of annexures.<\/p>\n Q.29<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 What is the significance of Column N – \u2018Action\u2019 and what information is required to be filled in this Column?<\/strong><\/p>\n Ans.<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 It is provided for the purpose of single revised return of the entire year under section 20 (4) (b) and 20 (4) (c)<\/p>\n <\/p>\n For details please refer steps for filing of annexures.<\/p>\n Q.30<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Developers\/Builders are not eligible to claim set-off of taxes paid in respect of the purchases wherein transfer of property in goods (whether as goods or in some other form) is involved in the execution of construction of flats etc…<\/strong><\/p>\n It is suggested to provide additional transaction type having description \u2018Purchases of taxable goods from registered dealer under MVAT Act and which are not eligible for set off\u2019.<\/strong><\/p>\n Ans.<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 It can be disclosed in preview return by manual input as an aggregate figure in table 17 row (f) in return form 233.<\/p>\n <\/p>\n Q.31<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 In case of mismatch of transactions, there would be addition of taxes in the next returns although set off has not been claimed in respect of those purchases by the developers in the returns.<\/strong><\/p>\n Ans.<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Developer can insert an amount of unclaimed set-off. It will be reduced from the reversal of set-off.<\/p>\n Please see table 13 B filed (j) in form 231.<\/p>\n Q.32<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 For better understanding of Forms and Annexure, it is suggested to provide demo of Transaction type\/code with relevant Box no. in the Form 231 to 235.<\/strong><\/p>\n Ans.<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 In \u201cSteps for filing of annexure\u201d, every transaction code is explained with examples.<\/p>\n Q.33<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 How dealer can verify the amount of set-off?<\/strong><\/p>\n Ans.<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 It can be verified from \u201cINPUT TAX CREDIT REPORT\u201d available in the dealer profile.<\/p>\n Dealer can download the invoice wise data shown by his seller against its purchases for particular TIN number.<\/p>\n Q.34<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Dealer has filed a return for the month of April 2016 taking into consideration Input Credit in respect of the taxable purchases made by him from various suppliers. The supplier has not filed return due for April 2016, Will credit be disallowed?<\/strong><\/p>\n Ans.<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 It will not be disallowed in the return for month of April. Set-off shall be admissible as claimed in the purchase annexure and preview return.<\/p>\n Credit will be disallowed while filing return for May 2016.<\/p>\n Q.35<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 For developers who have opted to pay composition VAT @1% in place of sales invoice no. and invoice date to enter flat no. or customer identification number and agreement registration date respectively.<\/strong><\/p>\n Ans.<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Yes, it is allowed.<\/p>\n Q.36<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 In case of agreement cancellation due to any reason, flat no. or customer identification number and agreement cancellation date shall be entered in place of sales invoice no. and invoice date respectively. Can transaction type 790 (Sales Credit Note\u2013 Sales WCT Composition for Transaction Type 450) be used? Kindly clarify it as presently it is stated that Credit notes (Transaction Type 790) can only be used for purpose of rate difference or discount.<\/strong><\/p>\n <\/p>\n Ans.<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Transaction type 790 can be used for such type of transactions.<\/p>\n For details please refer step for filing of annexures.<\/p>\n Q.37<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 TDS on WCT is deducted from the payment of works contract amount. Payment of TDS is to be made by 21st of subsequent month. TDS returns are filed annually after close of the financial year by 30th June of subsequent year. Certificates are issued to vendor once or twice in the year. How the credit of TDS shall be available to the works contractor?<\/strong><\/p>\n Ans.<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 TDS credit shall be transferred to the account of works contractor as and when return in form 424 is filed.<\/p>\n <\/p>\n Q.38 Revision of 424 shall be provided. <\/strong><\/p>\n Ans. <\/strong>Yes<\/p>\n Q.39<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 We used to make branch transfer and subsequent to this sold goods from respective branches established in different states.<\/strong><\/p>\n Ans.<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 This transaction type is provided for the sales which are not effected in the state of Maharashtra.<\/p>\n <\/p>\n Q.40<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Do we required to disclose here all sales pertaining to other states as these are sales effected outside the state Maharashtra? Since, this will automatically get covered in branch transfer code -300. This will create twice reporting, one as branch transfer and second as Other state sales. Please advise<\/strong><\/p>\n\n
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