Please Help: VAT Audit
Posted Date : 03-Aug-2011 , 06:43:04 pm | Posted By CA Rajnish
What it mean assessment year in u.p.vat?is it financial year?
Category : VAT | Answers : 1 | Comments : 6 | Hits : 746
Answers
Answer By: PRIYANKA
Assessment year and financial year are same in UPVAT, They are not two different concepts as in case of Income tax. Generally the term Assessment year is used instead of financial year in UPVAT. while filing returns for the period april 2011 to march 2012, it would be called Assessment year 2011-12. Hope ur doubt is clear..:)
Comments
Ashish Karundia
03-Aug-2011 , 10:30:32 pmAs per Section 2(c) of UPVAT Act, 2008 assessment year means the period of twelve months commencing on the first day of April of a calendar year. I hope this serves your purpose
Om Prakash Prajapati
04-Aug-2011 , 10:09:10 amAssessment year means financial in Vat act
CA Rajnish
04-Aug-2011 , 11:11:48 amThanks priyanka ji,om prakash ji and ashish ji for giving correct solution and removing my confusion.
CA VIPIN GARG
04-Aug-2011 , 03:19:14 pmYes completely agree with my respodents...............
PRIYANKA
05-Aug-2011 , 11:59:06 amPRIYANKA
05-Aug-2011 , 11:59:22 amwelcome rajnish jee..:)