12 June 2012
A proprietorship business engaged in export business. Business turnover cross Rs. 5 Lacs in month of may 2012. local sales(within maharashtra state) is nil. only export sales cross Rs.5 lacs and taxable purchases Rs. 1.8 Lacs. In this situation taken Mvat registration is mandatory for business?
12 June 2012
Yes as purchase limit is crossed. By seeking registration there are two benefits. You can purchase againts form h which helps to reduce your purchase cost else there is option of claiming refund. Think about it maybe you will prefer as every transaction of vat paid will come as input credit except the negative list
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