What is the meaning of negative repetition?
• Net Taxes = Taxes Payable - Discount Increasing Adjustment
- Decreasing Adjustment
Carry forward of negative net tax is the calculation of the
amount of net tax of a taxpayer if it is negative.
Negative rebate should be calculated on a tax basis.
• Negative discharge of each taxable period will be matured
after 6 months. In other words, the negative net tax of each taxpayer will have
to be dragged to the negative net for 6 months in general. However, there are
some exceptions. Details are given in the table below.
Table: Period of withdrawal
Sequential sector expiration
01. Until the construction sector is zero
02. Construction sector and other sectors together Until zero
03. Sector other than construction sector
If the amount is more than 50 thousand Tk. 6 months
If the amount is less than tk 50 thousand , additional 6 months, that is 12 months in total
6 months after approval of refund if the amount of net
refund is less than Rs.
One month if the export is more than 50%
More than 50% of the materials are used to supply zero rate one month
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Net tax can be negative for one month even though there is no zero rate supply
in all sectors.
Areas of Negative Turn
Negative curves can be drawn in the following fields. E.g .:
If the sum of tax rebates and deductible adjustments is more than the sum of
payable and incremental adjustments;
Having a zero-rate supply that causes the net payout to be negative;
Withdrawal of current account (VAT-18) under the new law under the 1991 Act;
Refined materials for the construction sector;
• Pay extra.
Draw a negative trend for the construction sector
• The construction sector here refers to all economic
activities related to "construction, housing construction, land
development or property development related economic activities". If the
amount of construction tax and deductible tax is more than the adjustable tax
and incremental adjustment, the negative standard tax will be levied
indefinitely, that is, until the negative amount is zero. The method of
repayment and repayment of this sector is different from other sectors.
In case of construction business only:
Businesses that operate exclusively in the construction
sector need to be negatively affected in the following ways, such as:
Negative amount of tax should be withdrawn indefinitely i.e.
till the negative amount is zero;
Negative debits will not be refunded;
You have to withdraw through submission.
In the field of construction and other businesses together
The registered persons who do business in the construction
sector as well as in other sectors should be charged in the following manner,
viz .:
Negative amount of tax has to be withdrawn indefinitely i.e.
till the negative amount is zero;
Negative debits will not be refunded;
It has to be drawn through the submission letter;
If the registered person receives separate registration for the relevant part
of the construction sector of his business and keeps the accounts of this
sector separate from the accounts of other sectors, then he will get refund for
the part of business in other sectors.
Negative pulling for other sectors
The procedure for levying negative amount of tax for sectors other than
construction sector is as follows. E.g .:
If the amount of negative amount is Rs.
If the amount of negative amount is less than Rs.
If the amount of negative charge is not zero even after drawing the amount
mentioned in the above 2 paragraphs, you have to apply for refund;
Adjustment should be done in the order of creation of the
first, first and after the next, i.e. negative sequence;
You have to apply for refund or return through the submission letter.
Businesses in other sectors have a negative impact
on their own construction work
• Almost all taxpayers have to do more or less construction
work or rent it to run the business. In particular, a large portion of the
investment of the manufacturing company is spent on construction related works.
Almost all supplies (goods, services and real estate) used in this sector are
taxable. It is also taxable in case of import. Since such construction is done
in the course of economic activities, it is concessional. In this case, since
the initial investment is much higher, the amount of net tax is also higher, so
it is not uncommon for the net tax amount to be negative for several months in
the initial stage of starting a business. In this case, such construction work
should be considered as purchase of normal materials of the organization.
Money due to the government if received in cash is known as refund. If for some
reason the amount paid to the government is more than what is supposed to be
paid, then there is an opportunity to get it back. The taxpayer will fix the
net tax on each tax term and submit the submission. If the net tax on the
submission is negative then he can arrange it in two ways, viz.
(A) for the purpose of adjustment to the next term, and
(B) Claim cash back. Refund is available only after fulfilling the condition of drawing negative net tax.
Return Condition
• In all cases refunds are not available immediately. There
are certain conditions to be met for a refund.
(A) Period of withdrawal for refund
It remains to be seen whether this can be adjusted before
applying for a refund. For this the taxpayer has to draw a negative charge for
a specified period of time depending on the nature of his business and the type
of supply, e.g.
Sequential sector expiration
01.Until the construction sector is zero
02. Construction sector and other sectors together Until zero
03. Sector other than construction sector
If the amount is more than 50 thousand rupees, 6 months
If the amount is less than 50 thousand rupees, additional 6
months, that is 12 months in total
6 months after approval of refund if the amount of net
refund is less than Rs.
One month if the export is more than 50%
More than 50% of the materials are used to supply zero rate one month
Net tax can be negative for one month even though there is no zero rate supply
in all sectors.
• (b) Other conditions of return
In case of taxpayer's refund, the following conditions will
apply, namely: -
01.Taxpayer must be registered for VAT
02.The taxpayer has to submit all the submissions till the
current tax period
03.Must apply for refund through submission
If there is any kind of arrears, after paying it from the refundable amount,
the remaining amount will be reimbursed if the amount is Rs.
Refund will be given through banking channel.