30 September 2007
dear sir, my client has been registered under VAT, but he is in to exporting of services only to his parent company i.e., it is a cost plus mark up type of a company. they also have a plan to render theese services in india. they have not filed any VAT return during the year, this was realised during the audit this year.They started operations in july 2006 and w.e.f.8/12/2006 they are registered as an STPI unit. What are the steps to be follwed now. Do you advice to continue his registration or re-register later? Is the penalty class for non filing of returns i.e. RS.50/-per day is applicable to them also?and are there any way of saving some amount of it.
please reply at your earliest.my e mail id is goven below
22 November 2007
For which state u are asking about? In Assam, only registered dealers are liable for filing VAT returns. As your company is only selling servicves, how it can come under the definition of dealer under VAT Act? Are there any other compellings sections in thy state regarding regstration of ompoanies, who does not fall under the definition of Dealer?
CAclubindia
