TNVAT Annual Return Procedure for Composition scheme

[Guest]

Dear Friends,

The Dealer in Furniture opted for composition scheme in TNVAT and paying 0.5% without using ITC and filing Form-K monthly return.

Whether the Annual Return is mandatory for the Dealer.? What is the Form for filing Annual Return.?

Regards

Ganesh

[YAGAY andSUN]

Dear Ganesh,

We could not find any form for submission of Annual Return. Please get the clarification from the TNVAT Department in writing.

Regards

Team YAGAY and SUN

(Management and Indirect Tax Consultants)

AI Summary

Annual return requirement for composition scheme: uncertainty over obligation and absence of prescribed form advises written clarification. Whether a dealer under the composition scheme who pays the composition rate without claiming input tax credit and files Form K monthly must additionally file an annual return, and which form governs that filing. The administrative response found no prescribed annual return form and advises obtaining written clarification from the TNVAT Department confirming any annual filing obligation and the appropriate form or procedure.