Duties and responsibilities of the organizations/institutions authorized to deducted or collected VAT at sources after deduction/collection

In my earlier post I discussed about the explanations given by the NBR through General Order no. -09/MUSHAK/2011, dated 12 October 2011 on some points as per the order. Now in this post I will discuss about duties and responsibilities of the organizations/institutions authorized to deducted or collected VAT at sources after deduction/collection.

Deposit the VDS through treasury challan within 15 working days from the date of deduction to the Government Exchequer of the concerned commissionerate code of the organization.

Write financial code on the treasury challan as 1/1133/0000/0311 (Write concerned commissionerate code in “0000” as necessary. Commissionerate codes are – Dhaka North-0015; Dhaka West-0010; Chittagong-0025; Sylhet-0018; Rajshahi-0020; Jessore-0005 and Khulna-0001. Larger Taxpayers Unit-Mushak Commissionerate code is 1/1145/0010/0311).

Prepare and circulate 3 copies of certificates on financial year basis in chronological numerical order embedded on the form “Mushak-12KHA” within 5 working days from the date of receipt of the treasury challan of which the first copy (i.e. original certificate) along with the original treasury challan to be sent to the concerned circle of the supplier, second copy of the certificate along with certified true copy of the treasury challan to be sent to the supplier and the final copy of the certificate to be preserved for 6 years.

The registered organization authorized to deduct/collect VAT at source shall show the total amount deducted in the serial no. 5 and total amount deposited to the Government Exchequer in the serial no. 16 of the VAT return for the concerned tax period. Here it is not necessary to entry in the VAT current account (“Mushak-18”).