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April 2014

Revised returns to be filed by developers Trade Circular 7T of 2014 dated. 21-02-2014

By Tarun Ghia, Pratik Mehta, Brijesh Cholera Chartered Accountants
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In terms of amendment in Rule 58 of the MVAT Act, the developers can file revised returns for the period from 20-06-2006 to 31-12-2013 up to 30-04-2014. The developer who have already been assessed can make their claim before the Appellate Authority. In case of cancellation of the assessment u/s. 23(11), they can claim, before the Assessing Authority passing, the fresh assessment order. Developer can revise the returns even in cases where notice of assessment is received.

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