01 February 2012
I have transfered all the stocks from one sole properitor to the new company and the closed the former one. Now my question is what are the procedure of cancelling the Vat registration. being specific the Vat registration is done in Karnataka. what an all documents I have to file as I haven't filed the Vat returns for last 3 months as we are no longer carrying any business from that sole propretior. please help its kind of urgent.
01 February 2012
Firstly all the VAT returns are to be updated as original returns which are due for filing. Only for the last month i.e say date of closure is 31.01.2012, then file the return as FINAL RETURN ONLINE. Also file a letter with the concerned LVO as to intimating them the closure of business. You need to enclose a trading account as on the date of closure of the business. Surrender the original VAT registration certificate.
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