A dealer who has been registered for the first time under the DVAT Act, his first Tax period shall commence from the date of his liability and shall be a quarter and continue to be a quarter till the end of the year in which registration is granted. His tax period for any year is based upon his turnover of the preceding year. Where the turnover of a dealer during the current year increases or decreases beyond the turnover limits specified above, he shall be liable to change his tax period from 1st April of the following year and shall file an intimation in form DVAT-55 upto 15th April of that year.
Dealers can elect an optional tax period by filing an intimation in Form DVAT-55 upto 15th April of that year. For the year 2005-06, an option to change in tax period may be exercised with effect from 1st October 2005 and intimation thereof shall be furnished upto 15th December 2005.
The option once exercised shall remain valid through out that year and could be changed only from 1st April of the following year. Any delay in furnishing the intimation shall not be condonable. Periodic Returns Dealers opting for composition scheme and other registered dealers as the case may be have a tax period of one month or a quarter. Due dates for payment of tax (w.e.f 5th December 2005) the tax period is a quarter or six months or a year 28 days from the end of every quarter i.e. 28th July, 28th October, 28th January and 28th April.