VAT Consultancy Service
30th Aug, 2021
The VAT must be submitted within the time specified by the Act, which includes:
- For goods manufactured, produced, imported, purchased, acquired or produced the VAT must be paid when:
- Delivery and supply of goods has been made;
- Invoice has been issued;
- Goods used for personal reasons or supplied for the use of others;
- Payment received in full or part.
- For taxable services, VAT will be paid when:
- Service is rendered;
- Invoice is issued;
- Payment in full or part has been received.
- In case of services received from beyond the geographical area of Bangladesh, VAT needs to be paid when payment is made in part or full.
In the presence of a VAT Consultant, a businessperson needs not to be concerned about any VAT related issues as those are being dealt by the consultant with expertise and in a professional manner. A VAT consultant can provide precise information and advice regarding the procedure of registration, amount of VAT that needs to be paid and ensures all paper works relating to VAT and other taxes are up to date, thereby, minimizing chance of any error.
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