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Tot registration

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 September 2011 Dear sir,

What is tot registration.who should apply it.why not vat?

what is the tax rate for tot?
is it required to file returns for tot?
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MJ Krishnamurthy

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MJ Krishnamurthy (Expert)
14 October 2011 Mr Author,
VAT and COT(tot) registrations are done in the same way,except in the form you have to opt fot COT(tot). The rate of tax is 4% or 5%,in different states. Monthly returns are to be filed in the same way as VAT but in different form.
MJK

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