Points to Remember

Points To Remember
Important points to know regarding HVAT/CST compliances in Gurgaon. 

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• There
  are four quarterly returns and one annual return (annual return only in
  case of traders and manufacturers) to be filled at the end of each quarter
  and in November each year respectively.The time provided is one complete
  month.
• There
  are monthly statements (by fifteenth of next month)and annual statements
  to be filled under Haryana Tax on Luxuries Act.
• Dealers
  (other than composite contractors)whose annual tax exceeds one lakh rupees
  in a financial year needs to deposit monthly tax from next financial year
  and the time provided is fifteen days.Composite works contractor needs to
  submit tax on monthly basis by 21st of every month.
• All
  the tax demand drafts or pay orders should favour ‘Assessing Authority’
  and should not contain any paisa.
• The
  quarterly returns should accompany proper list forms in templates ,summary
  of list forms attached with details of tax deposited.
• There
  will be compulsory annual assessments for each year based on annual return
  R2 filled in case of traders and manufacturers and on Affidavit of
  payments received in case of lumpsum contractors.
• Lump
  sum contractors are required to submit copy of new work order received
  along with  signed option letter
  within thirty days of receiving the same.
• The
  penalty for late filling the returns is Rs. 200/- per day under each Act
  and and interest is 12% per annum for 90 days and 24% per annum if the
  delay exceeds 90 days.
• The
  latest amendments can be viewed at department’s website ‘haryanatax.com’.
• Various
  formats can be downloaded from our website ‘rkjainassociates.com’ and
  dealers are advised to get themself registered at the same to get updates.

Dealers are advised to keep in touch with us for
latest amendments in the laws and to provide us the latest contact numbers and
e-mail addresses .