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A Step-by-Step Guide to Filling Out Form 50 for Certificate of Payment Under Kerala VAT Rules

The Kerala Value Added Tax (VAT) Rules 2005 include provisions for contractors, promoters, and developers to apply for a certificate of payment under Rule 57A. Form 50 is used for this application, which is essential for claiming reductions in duties under the Kerala Stamp Act, 1959. This guide provides detailed instructions on how to complete Form 50 accurately.

Overview of Form 50:

• Purpose: Form 50 is used by contractors, promoters, and developers to apply for a certificate of payment.
• Legal Basis: Rule 57A of the Kerala VAT Rules 2005 and the Kerala Stamp Act, 1959.

Part A: Details of Transfer

• Applicant Information:
  • Name and address of the applicant.
  • Tax Payers Identification Number (TIN).
• Intending Purchaser/Awarder:
  • Name and address of the intending purchaser or awarder.
• Property Description:
  • Description and area of the apartment, flat, or villa.
  • Name of the project, survey number, village, taluk, and district.
• Transfer Value:
  • Value of the transfer.
• Tax Paid:
  • Details of tax paid under the Kerala VAT Act, 2003.
• Remarks:
  • Any additional remarks relevant to the application.

Part B: Details of Payment of Tax Under Kerala VAT Act, 2003

• Monthly Tax Payments:
  • List the month and year, date of payment, amount paid, and any remarks for each tax payment.
• Total Amount Paid:
  • Summarize the total tax paid.

Declaration:

• Applicant Declaration:
  • A statement by the applicant verifying the accuracy of the provided information.
  • Signature, name, status of the signatory, place, date, and seal.

Part C: For Office Use Only