TNVAT Annual Return Procedure for Composition scheme

[Asked by 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

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.