Registration under mvat act 2002 require or not

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 October 2012 my client has traded tax free goods i.e. cloth. please state whether client require registration under mvat act,2002 or not.

CA Manish

CA Manish (Expert)
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18 October 2012 The threshold is based on the total turnover of sales and the level of taxable sales or purchases in a year commencing 1 April. The threshold limit above which you must register, depends on the nature of your business. If your are an importer and your total turnover exceeds Rs. 1,00,000 and your taxable sales or purchases exceed Rs.10,000 in a year commencing 1st April, you must register and account for tax. If you are not an importer and your total turnover exceeds Rs 5,00,000 and your taxable sales or purchases exceed Rs.10,000 in a year commencing 1st April, you must register and account for tax. “Importer” for this purpose means a dealer who brings any goods into the state or to whom any goods are despatched from any place outside the state.

Querist : Anonymous

Querist : Anonymous (Querist)

18 October 2012 my client is not import goods.also, my client not traded any taxable goods.

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CA Manish

CA Manish (Expert)
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18 October 2012 If u r not selling or purchasing any taxable goods then registration is not mandatory.