Return period - works contractor - composite scheme

[Guest]

WE ARE REGISTERED WITH DVAT DEPARTMENT AS WORKS CONTRACTOR. WE HAVE OPTED COMPOSITION SCHEME TO PAY OUR TAXES. WHAT WILL BE OUR RETURN PERIOD. WILL IT DETERMINE AS PER OUR TURNOVER OR REMAIN QTLY ALWAYS.

[Guest]

Return period is governed with reference to tax period. Therefore, you need to ascertain your tax period and thereafter determine your return period. Although VAT laws of different state may provide the same differently.

[Guest]

as per scheme notfied under composition scheme the tax period will be quarterly.

[Guest]

Dear Sir, Vat returns to be filed every month irrespective of the fact of exercising option of composition. If you have no RA Bill receipts in a month, file nil return.

AI Summary

Confusion Over Return Periods for DVAT Composition Scheme: Quarterly vs. Monthly Filing Requirements Explained A discussion on a forum addressed the return period for a works contractor registered under the DVAT department who opted for a composition scheme. The main query was whether the return period is determined by turnover or remains quarterly. One response indicated that the return period is based on the tax period, which varies by state. Another stated that under the composition scheme, the tax period is quarterly. A third response clarified that VAT returns must be filed monthly, even if there are no receipts, requiring a nil return in such cases.