REGARDING WORK CONTRACT DEALER
Circular No. 1/2013 of 2013-14
Date: 10/04/2013
The Government has notified a new Composition
Scheme vide Notification No. 3(13)/Fin.(Rev-I)/2012-13/ds VI/180 dated
28.02.2013, which is effective w.e.f 1st April, 2013, for dealers exclusively
engaged in carrying out Works Contracts.
In the trade circles, there is some confusion
with regard to the last date for filing of application in Form WC 01 under the
new Composition Scheme, by the dealers who were not under composition scheme
and were paying tax under Section 3 of the DVAT Act, 2004, during the last
financial year.
The first proviso to Condition No. (2) i.e.
“Modalities for availing the Scheme”, of the said notification provides for
filing of applications in Form WC 01 within thirty days from the date of
notification i.e. on or before 30.03.2013. The said proviso was meant to be
effective if the scheme was to be introduced any time midcourse during the
financial year.
However, the Government has notified the
scheme to be effective from 01.04.2013 i.e. the starting of the financial year
2013-14. Accordingly, the dealers who were paying tax under Section 3 of the
Act during 2012-13, are covered by main Condition No. (2) which reads as under:
“(2) A works contract dealer who is paying
tax under section 3 of the ACT, can opt for this scheme by filing an
application in Form WC 01 appended to this notification within thirty days from
the first day of the financial year with effect from which composition is
opted,;
Accordingly, the existing works contract
dealers paying tax under Section 3 of the Act as well as the dealers who were
paying composition tax under the earlier composition scheme, are eligible to
opt for this new composition scheme by filing an application in Form WC 01
within thirty days i.e. on or before 30.04.2013.
Regards
CA. Mona Singhal
Partner
Arpit Gupta & Associates
Chartered Accountants
701, Nirmal Tower,
26, Barakhamba Road,
Connaught Place, Delhi-110001
Mobile:- +91-9873082769
Website: www.caaga.co.in
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