Form 55

[Guest]

LET ME KNOW PLEASE WHICH DEALER HAS TO FILE FORM 55 UNDER DVAT ACT.SUPPOSE A DEALER HAS ATURNOVER OF RS. 11 LACS FOR THE PERIOD 2006-2007 AND PREVIOUSLY THE RETURN PERIOD WASQUARTELY. HAS THE DELAER FILE FORM 55 TO OPT HALF YEARLY RETURN FOR 2007-08 OR AUTOMATICALLY AS PER ACT THE PERIOD CHANGE.

AI Summary

Dealer with Rs. 11 lakh turnover must file Form 55 for half-yearly return under DVAT Act, Rule 26. A query was raised about the requirement for a dealer with a turnover of Rs. 11 lakhs for the period 2006-2007 to file Form 55 under the DVAT Act to opt for a half-yearly return for 2007-08. The response clarified that if sub rule (1) of rule 26 applies, the tax period changes automatically, but an intimation is necessary as per sub rule (4). If a dealer wishes to voluntarily change the return period under sub rule (3), they must also file an intimation using Form 55.