Submission of Statements, Accounts, etc., under West Bengal Value Added Tax Act, 2003

Dec 19, 2018 | by Avantis RegTech Legal Research Team


Section 30E of West Bengal Value Added Tax Act, 2003, read with Rule 44 of West Bengal Value Added Tax Rules, 2005, requires submission of statements, accounts, audit reports or declarations by registered dealers within 31st December after the end of the year.

Audit Report in Form 88, as provided for under Rule 44 of WBVAT Rules, was omitted with effect from April 01, 2017, and instead every registered dealer, who is mandated to get his accounts audited under the provision of the Income Tax Act, 1961 was required to submit a copy of the said Income Tax audit report under Section 30E of the WBVAT Act, together with a copy of the Profit and Loss Account and Balance Sheet for such year within the 31st day of December after the end of the year.

After the GST law being implemented with effect from the 1st day of July, 2017, there seems to be some confusion amongst some dealers regarding submission of statements, etc., under Section 30E, for the quarter ended 30.06.2017.

Therefore, the Commercial Tax Department of West Bengal has clarified that since the provision of the Income Tax Act, 1961, does not require audit for a single quarter hence submission of statements, accounts, audit reports for the quarter ended June 30, 2017 is not mandatory under Section 30E of the West Bengal Value Added Tax Act, 2003.

[Circular 506CT/PRO]

 

URL: http://www.wbcomtax.nic.in/Circulars/506CT_PRO_20181219.pdf


Bookmark

Related Updates



Alternate Text

Get updates on the go on RuleZbook Mobile App.