TURNOVER FOR REGISTRATION UNDER MAHARASHTRA VAT

This query is : Resolved

pradip (Querist)
Follow

14 July 2010 BUSINESS: RETAILER IN FERTILISERS AND PESTICIDES
PURCHASE BILLS STARTS FROM 26/05/2010 AND FIRST 5 LAKHS PURCHASES CROSSED AS ON 08/06/2010, BUT ACTUAL COMMENCEMENT OF BUSINESS AND SALES ARE FROM 23/06/2010 UNDER SHOP ESTABLISHMENT ACT,
AND ALL THE PURCHASES UPTO 23/06/2010 ARE OPENING STOCK
SALES STARTS FROM 23/06/2010 AND FIRST 5 LAKHS SALES CROSSED AS ON 08/07/2010
PLEASE TELL ME WHETHER I CONSIDERED FIRST PURCHASES OR SALES TURNOVER FOR BECOMING REGISTERED DEALER UNDER MAHARASHTRA VAT
PLEASE REPLY URGENT

Amit Sheode

Amit Sheode (Expert)
Follow

15 July 2010 Pls refer to Sec 3(2)(2)(3) & (4) of MVAT Act. WEF 20-06-2006 it is only the TO of Sales that are considered for determination of liability.

Message likes : 1 times