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 Gov’t agrees to retain VAT exemptions of seniors, PWDs Read more: https://business.inquirer.net/223121/govt-agrees-retain-vat-exemptions-seniors-pwds#ixzz4W5NV2I48 Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook
 Understanding VAT refunds

Industrialists confused over new VAT forms
October, 14th 2011
The excise and taxation departments instructions that Value Added Tax (VAT) returns have to be filed in new forms that have to be downloaded does not seem have reached the industrialists. Stating that this is a sudden change without prior instructions, the industrialists are claimimg they are confused. The new forms have to be downloaded before the VAT returns are e-filed for this quarter. Most of them, however, are still filing their returns through the old forms.

Tax lawyer Jatinder Khurana said: The industrialists are giving us the returns filled in old forms which have been saved in their computers already. They are giving us the pen drives or CDs for e filing and the returns were rejected on Thursday. Later, we found out that new forms need to be downloaded. There is no change in the format of the form or the annexure along with it, but still this new instruction has been given. This information should have been mentioned on the website of department so as to avoid harassment. The returns have to be filed by the end of this month, but a number of businessmen have started filing these days.
 
 
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