Return furnish

[SANJAY JAIN]

If turnover is nil & Person ragistered under dvat and cst act, is he is liable to furnish return in the first year.

 

[YAGAY andSUN]

You are required to furnish 'NIL' return even if there is NIL turnover.

AI Summary

Nil return obligation requires registered VAT and CST taxpayers to file returns even when turnover is nil during the year. A person registered under the VAT and CST statutes must file returns even when there is no taxable turnover; the operative obligation is to furnish a nil return in periods, including the first year of registration, where turnover is nil.