KARNATAKA VAT - Audit

1.  Companies registered under Companies Act are required to file Audit report signed by a Chartered Accountant in Form 240 - Refer Sec.31(4) of KVAT Act read with Rule 34(2) of KVAT Rules.

2. Such Audit report in Form 240 should be filed within 6 months from the end of the relevant financial year.

3. There is no requirement for yearly renewal of registration under the VAT Act.

4. So far, online submission of Return (Form 100) is not prescribed under the KVAT Act.

1.  Companies registered under Companies Act are required to file Audit report signed by a Chartered Accountant in Form 240 - Refer Sec.31(4) of KVAT Act read with Rule 34(2) of KVAT Rules.

2. Such Audit report in Form 240 should be filed within 6 months from the end of the relevant financial year.

3. There is no requirement for yearly renewal of registration under the VAT Act.

4. So far, online submission of Return (Form 100) is not prescribed under the KVAT Act.

Thank you very much sir.

I was informed by another member of lawyersclubindia that yearly renewal of Karnataka VAT is to be done using the Form VAT 6.

 

Request you to kindly confirm this. Also please let me know when is the last due date for submission of such form. Is there a leavy of any fees for renewal?

As indicated already, there is no specific provision for yearly renewal of VAT registration in Karnataka.  Form VAT 6 is required to be filed every year under Rule 38 (8) only to update changes in details of registration.  The relevant rule is reproduced as under:

“(8) Every registered dealer shall submit a statement relating to his registration in Form VAT 6 along with the return in Form VAT 100 submitted in respect of the last month of that year in which there is a change in the details of his registration.”

Thus the form is required to be filed only when there is any change in the details of registration and the same is to be filed on a yearly basis along with Monthly return for the month of March.

Very clear sir. I have no more doubts. Thank you.