Karnataka Value Added Tax Act, 2003

Applicability:

The Karnataka Value Added Tax Act comes into from 1^st day of April, 2005. The Act is applicable to the whole state of Karnataka.

Registration:

Every dealer liable to register under section 22 shall submit application for registration in Form VAT -1 to the Local VAT office along with following documents:

·            Registration Fee of Rs.500/-

·            Certificate of Incorporation & Memorandum and Articles of Association/ Partnership Deed etc.

·            List of Directors

·            2 color photographs of Proprietor/Partners/Directors

·            Proof of Address

·            Details of Additional place of business in Form VAT – 3.

·            Details of all Partners in Form VAT – 4.

·            Security Deposit as demanded by the Local VAT Office.

On receipt of application for registration, the concerned VAT Officer will scrutinize the documents and on verification of place of business, if satisfied, will grant the certificate of Registration.  For Amendment/modification in the Registration Certificate, application shall be made in Form VAT -2 to the Local VAT Office. After scrutiny of the documents, Local VAT Officer will modify the Certificate.

Payment of Tax:

VAT for the particular month has to paid on or before 20^th day of subsequent month.

Returns:

The registered dealer has to file monthly as well as Annual Return to the Local VAT Office. Monthly Return has to be filed in Form VAT -100 on or before 20^th day of the subsequent month.

Annual Audited statement of Accounts has to be filed in Form VAT-240 on or before 31^st day of December.