1. We have newly entered into exports (no domestic sales), wants to do fresh registration for VAT. Since what we came to know that for company's having no turnover shuld pay Rs. 25,000/- deposit and Rs. 5000/- as fees of sales tax dept. This will be for both VAT & cst.please confirm us for the same.
Does this amount of Rs.25,000/- can be rehembursed once a minimum turnover amount is reached? pls confirm minimum turnover amount as well.
We'll need this to get benefit of "H" form for exports.
Thanks in advance and appreciate your early feedback.
05 May 2012
Rs. 25000 is taken as deposit for Voluntary Registration of a Dealer. Rs. 5000 is the Registration Fees.
The deposit Rs. 25000 is taken as interest free deposit for a period of three years. After completion of 3 years, this amount is adjusted against VAT Payable.
CAclubindia
