Any undertakings can enjoy VAT exemption in Office rent
(service code S074) up to 150 Sft. Floor as per Table no. 04, VAT SRO No.
141-AIN/2021/138-Mushak.
Some important Timeline:
1. Input Tax Claim:
Any registered person can claim Input tax in their VAT
return at same VAT Period or following four VAT period. For Example: ABC ltd.
import raw materials and paid input Tax along with on Feb’21, They can claim
Input tax in their VAT return in Feb’21 or following 04 (four) period within
June’21, If they fail to claim Input Tax in prescribed timeline (within
June’21), they will be treated as disqualified to claim Input Tax afterward as
per ref. Sec 46 of VAT and SD Act 2012. Previous Finance Act 2020, timeline was
2 tax periods it has replaced by new finance Act 2021.
2. VAT deducted at Sources (VDS) deposit
Any VAT deducted authority as VAT and SD Act, 2012 need to
deposit VDS which is deducted at source from purchasers on payment within 15
Days from payments date as per VAT SRO no. 240-AIN/2021/163-Mushak.
3. Issuing VDS Certificate (Mushak 6.6)
As per VAT SRO no. 240-AIN/2021/163-Mushak, VAT Deduction
Authority shall issue 3 Copies VDS certificate in form Mushak 6.6 within 3 Days
from VDS deposit in Govt. Treasury. Three copies will segregate among:
ü
One Copy submit in VAT office.
ü
One Copy issue to respective supplier.
ü
One Copy retain by organization who issue this
certificate up to 5 years or 3 years for 100% Export organization.
4. Adjusting Decreasing Adjustment in VAT
return
Any registered person can adjust as decreasing adjustment within
same VAT period in which period payment has received by supplier or following
VAT period as per VDS certificate (Mushak 6.6). Time for this prescribed in
Bangladesh finance Act 2021 clause no. 48. Previous deadline was 6 months as
per sec 50, VAT and SD Act 2012. It has replaced by new Finance Act 2021.
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