Withdrawal from composition scheme: file intimation promptly and claim input tax credit on in stock inputs based on invoices. A dealer withdrawing from the composition scheme must file Form DVAT 03A within seven days of crossing the turnover threshold, supplying Part A and Part B ... Summary
Withdrawal from composition scheme: file intimation promptly and claim input tax credit on in stock inputs based on invoices.
A dealer withdrawing from the composition scheme must file Form DVAT 03A within seven days of crossing the turnover threshold, supplying Part A and Part B details and Annexure entries. On withdrawal the dealer may claim input tax credit for tax paid on trading stock, raw material and packaging material held in Delhi as on the withdrawal date, but only on the basis of original tax invoices showing the tax component separately. The form requires invoice-level schedules, totals carried to the main form and a verification declaration by an authorised signatory.
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