Filing of Form 55

[Guest]

we have been granted vat registration on 23-04-2009 wef l&v 22-03-2009. our sale for 22-03-2009 to 31-03-2009 is rs.600. as our sale for the year 2008-09 is 600. whether we have to file form 55 for change of tax period for 2009-10. the last date to file form 55 i.e 15-04-2009 for 2009-10 already expired. we could not file form 55 as we have received the registration order as on 23-04-2009. what we should do now.

[Guest]

I think in case of genuine difficulty, no penalty would be lived. But, there may not be any specific exemption in case the turnover is only Rs. 600/-.

[Guest]

IN MY OPINION, YOU HAVE TO FILE YOUR VAT RETURNS FOR THE FY 2009-10 IS QUARTERLY AFTER THAT YOU CAN CHANGE YOUR TAX PERIOD FOR FY 2010-11 BY SUBMITTING THE FORM-DVAT-55.

AI Summary

Change of tax period: late Form 55 filings require compliance with default periodicity now and Form DVAT-55 later. Change of tax period requests arise where registration becomes effective after the Form 55 deadline; delayed registrants must comply with the default tax period (quarterly) for the year of registration and may later request a change of tax period for the following year by submitting Form DVAT-55, with administrative discretion potentially mitigating penalties in cases of genuine difficulty.