18 February 2016
Sir/Mam, Can I register my proprietary firm in back date in U.P or Delhi so that I can show that I have a running business? If yes, then how can it be done? Please help. Thanks
21 February 2016
This question is replied purely from the angle of service tax. As per the provisions of Finance Act 1994 (as amended), the service provider is supposed to register himself with Central Excise authorities, once the taxable services provided exceeds Rs. 9 lakhs. In other words, one may be a service provider for any number of years, but if his turnover was below Rs. 9.00 L, there was no necessity for registering his business. Suppose you want to show you were in business from 2012-13, keep your turnover below Rs.9.00L. Register in the current year and start collecting and paying service tax.
A CAVEAT - In giving this advice, the provisions of Income Tax Act, 1961 and the relevant VAT Act (U.P. / Delhi) have not been considered.
CAclubindia
