Return period - works contractor - composite scheme

[Asked by 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.

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.

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

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

Return period for works contractors under composition scheme may be governed by tax period, requiring monthly or quarterly filings.
Return period for works contractors under a composition scheme is governed by the tax period, which must be ascertained from applicable VAT provisions; some notifications provide for quarterly returns under the composition scheme while other guidance requires monthly VAT returns irrespective of composition, with a nil return to be filed where no RA bill receipts occur.