Under the VAT in UAE, some violations of provisions concerning the VAT Law might invite administrative penalties. To know further, let’s find out administrative penalties under the VAT regime in UAE.

What do you now about administrative penalty under VAT in UAE?

There are chances that you might be asked to pay penalty money under VAT rules in UAE. As a matter of fact, you cannot show any disobedience with laws under VAT UAE. There are some consequences that you might face if you do the following things:

  • When you are a taxable person and you fail to display the original price inclusive of the tax, you are bound to pay 15,000 in total.
  • Then, when you are a taxable person and fail to notify FTA concerning charge of the tax based on margins, you will have to pay a total of 2,500
  • When you fail to comply with conditions related to storing goods in designated zones or moving them to such a zone, you will have to pay a higher amount of 50,000. Alternatively, you can also choose to pay 50% of the chargeable amount for the violation caused.
  • When there’s the failure by the taxable person for issuing tax invoice or the alternative documents while choosing the supply! In this case, there’s 5,000 for credit notes (per credit note will be 5,000) or the alternative documents.
  • When there’s the failure by the very taxable person for complying with conditions as well as procedures concerning the issue of the electronic tax invoice as well as of credit notes, there’s 5,000n for every incorrect data.

Invoicing for VAT complaint

The fact is that the VAT compliance will start with the VAT invoicing. As a matter of fact, each of the single invoices which get generated or transacted via the record should be performed in a BAT compliant manner. With the Tally.ERP 9, there’s simply nothing to worry about whether or not you raised the invoice in a correct manner.

All you require doing in the Tally. ERP 9 is just entering the TRN (i.e. UAE) or even the TIN (i.e. KSA) plus the period as well. After you begin to record the transactions in Tally. ERP 9, you will see VAT getting ready for software maps all data with the must-know VAT rules. But how do you do that? Well, you can take best help from the experts at GCC Filings. Here’s to know more about the company. To know more, keep reading on!

About the GCC Filings:

The GCC filings team walks an extra mile in handling their job effectively. The investors here are amazing at the job they perform of entrusting funds in portfolios. They also get a good return too. Fund managers here at the audit section are highly knowledgeable and experienced in handling the portfolios of the mutual funds as well as equity. The performance has already yielded them a good return.

As a matter of fact, they are highly knowledgeable regarding accounting, company incorporation, auditing, VAT registration and more. The investors as well as the capital markets make right use of information offered by them. They know their responsibilities. And that’s how they perform things minutely. Now that you know everything about administrative penalty under VAT in UAE, you can contact the team of GCC fillings and take help for filling up the form effectively.

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