goacomtax.gov.in Statutory Form Search Goa : Commercial Tax Department

Organisation : Commercial Tax Department Goa
Service Name : Statutory Form Search
Applicable States/ UTs : Goa
Home Page : https://goagst.gov.in/comtax_start.html
Search Here : http://goacomtax.gov.in/salestax_article_disp.php?cid=37

Statutory Form Search :

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1. Search Option – Barcode Number or Series & Serial Number

Related : Goa Commercial Tax Department Pay Taxes Online : www.statusin.in/6231.html

Barcode Number Search :
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Series & Serial Number :
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ii. Enter Series No
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2. Select Type of Form – C Form or E1 Form or E2 Form or F Form or H Form

FAQs :
1. What is VAT ?
VAT is the short form of Value Added Tax. VAT is the tax that has replaced the earlier levy of Sales Tax. Under the earlier first point system of levy of tax, the manufacturer or the importer of goods into the State was liable to sales tax.

There was no levy of sales tax on the further distribution channel. VAT, in simple terms, is a multi point levy on each of the entities in the supply chain with the facility of set off of Input Tax i.e., the tax paid at the stage of purchase of goods by a trader and on purchase of raw materials by a manufacturer.

i.e., only the value addition in the hands of each of the entities is subject to tax. The levy of VAT is administered by the Goa Value Added Tax Act, 2005 and the rules made thereunder.

2. What are the advantages of VAT ?
i) Set off is available.
ii) No separate levy of surcharge or Additional Tax.
iii) Shares the burden to all levels of supply chain.
iv) Taxes only the value addition.

v) Fewer rates.
vi) Entry Tax is vatable i.e., it can be claimed as input tax credit.
vii) Self assessment by the dealers.

3. Who are liable for registration under VAT ?
The dealers, whose turnover during the financial year 2004-05 has exceeded the limit of turnover or dealers, who are registered or liable for the registration under Central Sales Tax Act, 1956 as on 1/4/2005 are liable to pay tax on sales effected by them from 1/4/2005.

Limit of turnover :
a) Rs.10,000/- in case of non resident dealer and casual trader.
b) Rs.1,00,000/- in case of importer/manufacturer.
c) Rs.5,00,000/- in any other case.

The dealer, who had not exceeded the limit of turnover during the year 2004-05, will become liable from next date on which the turnover has exceeded the turnover limit.

Every dealer exporting any goods outside India or effecting stock transfers to any State and Union Territories within India, shall be liable to pay tax on all taxable sales effected within the State.

4. What is Input Tax ?
Input Tax has been defined in section 2(r) of the Goa Value Added Tax Act, 2005 as “ Input Tax means tax charged under this Act by a registered dealer to another registered dealer on purchases of goods in the course of business.”