16 August 2014
Dear Members Good Morning Recently we started a small retail shop(fancy and saree material) and we want to take trade licence, which licence we should apply first ? for vat our Turnover is less than the registration limit, and for Labour licence our temporary staff level is less than the statutory limit. But we want to go for bank loan where manager will ask us Licence. please guide us in this regard.
As per your Business Criteria, being a sole Proprietorship Shop dealing in Retail business of Sarees , You first get itself registered for A sole proprietorship Firm and Then go for VAT Registration in this context.
19 August 2014
Thank you rupesh ji for your suggession, but our Taxable turnover limit is far less then current 5 lac pa. if we register voluntarily we need to maintain books of accounts as per statutory requirement.
Thank you CS Richa kumar ji, but a the owner( my wife is already IT Assesee coming under NIL tax bracket, is it necessary to register fresh the shop under as a sole proprietorship ?
CAclubindia
