About Workshop
Valued Added Tax (VAT) is a very important matter of today’s life. Everybody comes across some aspects of VAT in course of his daily life and professional life. Be it an industry or any business house or any government or non-government office, there lies either the need for paying VAT or deducting VAT at source. All retail buyers require knowing the need for and importance of taking VAT Chalan. So, it is important for everyone to obtain basic knowledge on VAT. It is more important for them whose decisions matter for their businesses and industries.
People dealing with management, finance and VAT in different businesses and industries require to know many things regarding VAT, some of those matters are tricky in nature and some are general. Industries, business houses and authorities empowered to deduct VAT at source very often find themselves in troubles because of tiny lapses which could have been easily avoided had they had basic knowledge regarding VAT. Questions like: Who requires taking VAT registration? What are the rates of VAT? When VAT becomes payable? What is Turnover Tax and Cottage Industry? Where input tax credit is not allowed? How to face a VAT audit and an irregularity or evasion case? How to maintain books of accounts? How to submit VAT returns? How refund and drawback is to be taken? What are the offences and penalties if provisions of VAT Act and Rules are violated? are common concerns – the answers to those may not be obtained instantly causing sufferings to them.
This basic course is designed to provide all concerned primary, structural knowledge based on which they can find solutions to many of their queries themselves. Thus, the participants would be able to protect their businesses and industries from many would-be troubles and they would be able to contribute to the sound fiscal management in their businesses, industries and offices.
How participants will benefit after the course:
The purpose of this course is to provide the participants basic and structural knowledge regarding all aspects of VAT. Thus attending the course, the participants will be able to:
- develop general knowledge regarding all aspects of VAT;
- find solutions to many of their queries by themselves;
- run the fiscal management in their organizations in far better way;
- protect their organizations from many future troubles;
- further develop their career in VAT, finance and management.
Workshop topics to be covered:
Day: 01
Introduction
History, Background, Basic Features and Variants of VAT;
Advantages, Disadvantage and Distortions of VAT in Bangladesh;
The Value Added Tax Act, 1991
From Section: 1 to Section 8
Exercises
Question and Answer
Miscellaneous.
Day: 02
The Value Added Tax Act, 1991
From Section: 9 to Section 36
Exercises
Question and Answer
Miscellaneous.
Day: 03
The Value Added Tax Act, 1991
From Section: 37 to Section 56
Exercises
Question and Answer
Miscellaneous
Day:04
The Value Added Tax Act, 1991
From Section: 57 to Section 73
The First Schedule
The Second Schedule
The Third Schedule
The Value Added Tax Rules, 1991
From Rule 1 to Rule 15
Exercises
Question and Answer
Miscellaneous
Day: 05
The Value Added Tax Rules, 1991
From Rule 16 to Rule 43
Exercises: Hearing
Question and Answer
Miscellaneous
Day:06
Exercises : Form Mushak-1 to Mushak-12Kha
Exercises: Show cause reply
Question and Answer
Miscellaneous
Day: 07
Form Mushak-15 to Mushak-19
Exercises: Hearing
Question and Answer
Miscellaneous
Day: 08
Exercises: Form Mushak-19 to Mushak-29
Exercises
Question and Answer
Miscellaneous
Day: 09
VAT Registration, Exemption, Turnover Tax, Cottage Industry, Price Declaration,
Supply with similar prices, Issuance of VAT Chalan, Supervised Clearance, Debit Note, Credit Note, Input Tax Credit,
Disposal of waste, unused or damage inputs and produced goods, Submission of returns, VDS, VAT on traders,
Exercises
Question and Answer
Day: 10
Maintenance of books of accounts,
VAT Audit, Search and seizure,
Adjudication of offences, Fines and penalties, Appeal, Export formalities,
Duty drawback, refund, rebate, Closure of business
Exercises
Question and Answer
Evaluation, Certificate distribution
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