15 December 2016
Dear Sir/Mam, I want to establish my manufacturing unit of leggings, school uniforms and other readymade garments. I have some queries regarding this
1.Which is more benificial whether to go for a partnership firm or a proprietorship along with its consequences? 2. MP Vat rate applicable on leggings? 3. Threshold limit of taking a tin registration under mp vat.? Pls. resolve my queries as soon as possible. Thanking you, Sanni Wadhwani,
16 December 2016
In my views:
1. proprietorship for saving from tax and compliances, LLP or company for having ease of outside finance and trust.
2. 5%.
3. turnover of 1 lac for taxable goods or 10 lac for all.
for further query in detail contact us : rnjeswanibc785@gmail.com, 9923179548.
16 December 2016
Can you please specify the section where i got the threshold limit of mp vat. I have an confusion regarding this because many of says the threshold limit would be Rs. 500000.
16 December 2016
Correction:
1. The limit mentioned in point 3 is for Maharashtra vat.
2. For MP the registration threshold limit is Rs. 5 lac turnover.
Regretful.
CAclubindia
