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Sales Tax Review |
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September 2007 |
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TRADE CIRCULAR. |
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No.VAT/AMD-1007/1B/Adm-3
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Trade Cir. 59 T of 2007 |
Mumbai Dt:12.09.07 |
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Sub: |
Electronic filing of returns. |
Gentlemen/Sir/Madam,
This circular is in the nature of
an advance intimation.
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It is proposed to introduce a system whereby
returns are filed electronically. The payments would be made either under the
existing system or by way of e-payment through internet. Various alternatives
are under discussion and consideration. The representatives of the trade and
of tax practitioners are being consulted while finalizing the new procedure.
The existing system was introduced in 1979. Under this system the return and
the challan are combined in a single document and the document is physically
filed with a bank. This system will be gradually phased out.
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In the first instance, the new system of
electronic filing would be introduced for very large tax payers. Thereafter,
the scope of the system would be increased so that the largest possible
number of tax payers file their returns
electronically.
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In many States, the dealers are required to
furnish the details of sale and purchase tax invoices alongwith their
returns. It is proposed to introduce this feature in Maharashtra also.
However the dealers will be required to furnish these details only in an
electronic format and not as a hard copy. The dealers will also be required
to provide the sales tax registration number [TIN] of the purchaser in case of
a local sale. It would, therefore, be useful if the dealers start collecting
the TIN of their purchaser and print this TIN on the Tax Invoices issued by
them.
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The details of the new system and the further
requirements would be made known to the trade and industry well in advance.
This circular is being issued to appraise the trade and industry of the
forthcoming developments and so as to give them time to prepare themselves for
the new system of filing of returns, payment of tax and furnishing details of
invoices of sale and purchase.
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This circular cannot be made use of for legal
interpretation of provisions of law, as it is clarificatory in nature. If any
member of the trade has any doubt, he may refer the matter to this office for
further clarification.
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You are requested to bring the contents of this
circular to the notice of all the members of your association.
Yours faithfully,
(SANJAY BHATIA)
Commissioner
of Sales Tax,
Maharashtra State
, Mumbai. |
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