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VAT in Chandigarh

VAT Is Important For National Development
In more than 130 countries in the world, VAT, forms one of the main instruments for fiscal consolidation. If enforced properly, the value added tax system can increase the GDP and reduce the fiscal deficit. Here lies the actual benefit of imposing VAT in Chandigarh. The city, being capital of two prosperous states, is a center for trade and industry and hence it is important that VAT in Chandigarh should not only be levied at a justifiable rate, but must also be implemented with due importance.

How is VAT calculated in Chandigarh?

According to the theory, VAT is calculated on the estimated market value of any good both at the time of manufacture and distribution. In general, such assessments are carried on at different stages of production. For example, in case of manufacture of woolen garments, VAT is assessed not only at the time of purchase of the raw wool, but it is reassessed once the raw wool is transformed into knitable material and finally once the finished product is manufactured out of that.

The process continues as the produce reaches the wholesaler and then to the retailer. In short, each time a product changes its value, or is resold, a new VAT is levied. However, in the ultimate analysis, the consumer has to bear the entire VAT because manufacturers and traders generally include that in the pricing structure. 

Paying VAT in Chandigarh:

Paying VAT in Chandigarh like any other part of the country is indeed mandatory. However, the good part of it is that the process is hassle free. They have a comprehensive list of dealers, who accept the tax on behalf of the government in every ward. One can always log into the website and get the details of such dealers. Besides:

  • All records have been computerized; hence accessing information regarding various factors such as Returns filed, payments made, verification of encashment of cheques etc has become hassle free.

  • A senior officer has been entrusted with the task of facilitating the work of the dealers as well as the tax payers.

  • Sampark centres have been opened in various parts of the city. These have been authorized to transact all businesses on behalf of the government. Therefore, paying VAT in Chandigarh is no more a time wasting procedure.

Online VAT in Chandigarh:

In order to implement VAT in Chandigarh, the tax authorities have further simplified the process with the introduction of VAT e- returns. The VAT or the CST e-return form can be downloaded from their official website. However, it is essential to focus on following details:

  • Firstly, all columns of the return in form VAT 15, VAT 17, 19, 23, and 24 should be filled correctly. The department of excise and taxation UT Chandigarh will not accept any incomplete form.

  • To secure the data, it is also essential to click the Non-Editable button of the return form before saving it. 

Services Offered by the VAT authorities in Chandigarh:

It is true that the main job of the office is to see that the dealers comply with various provisions of the VAT law, they also offer following other services. One can visit their website to know more about such services. However, here is a gist:

  • Issuance of Various declaration form
  • Grant of registration certificate
  • Amendment application of various kinds
  • General queries
  • Providing information on the website

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