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04 March, 2017

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NEW PROCEDURE FOR DELHI VAT REGISTRATION - NO INSPECTION & BANK ACCOUNT REQUIRED

NEW PROCEDURE FOR DELHI VAT REGISTRATION - NO INSPECTION PRIOR TO REGISTRATION NOW

HIGHLIGHTS :-
  • No Inspection by VATI
  • Provisional RC Concept now Eliminated
  • Final RC at the outset only
  • No Bank Account Required Initially at the time of Filing
In a Major Relief to Delhi VAT Dealers and assessee’s the Delhi government has done its bit to ease the norms for registration and also eliminating inspection at the outset of the registration. With this on the other side it will be important for the government to ensure that this ease is not misused by unscrupulous elements.

New Process for Registration is Comparatively Simple and shall be as under:-

1. The applicant dealer, applying online, shall provide PAN details and other brief particulars including e-mail, mobile etc. to begin with.
2. PAN shall be verified from Income Tax data base, maintained by NSDL, on real time basis.
3. On successful PAN verification, user ID and password would be communicated to the applicant on the same day.
4. The applicant dealer can file registration application under DVAT and /or CST Act, as the case may be, and deposit fee online. Scanned requisite documents are also required to be uploaded with the application.
5. The application(s) would be made available in the login of concerned ward VATO for examination of application documents.
6. Consequent upon approval of the VATO concerned, the digitally signed Registration Certificate/TIN (downloadable at the dealer's end) will be granted preferably within one day to the prospective applicant dealer, (instead of 'Provisional Certificate' hitherto issued), for which no VATI verification at this stage shall be required.
7. The provision of providing Bank Account details, at the time of applying for registration under DVAT & CST Act, as envisaged in Form DVAT 04, Part ( Column No 16) shall be optional ,on the part of the applicant dealer. However, the dealer shall have to provide Bank Account details of the business expeditiously on or before the filing of first Return, in r/o the registered entity.

Circular No- 24 of 2016-17 | Date:- 23-02-2017

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About the Author:
CA Ankit Gulgulia (Jain)
Author is Practicing Chartered Accountant in New Delhi/NCR and specialising in Indirect Taxes, Corporate Laws and Transfer Pricing. He can be reached at ankitgulgulia@gmail.com

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