Turnover Tax instead of VAT
This query is : Open
19 April 2010
Hello,
I understand that the trader needs to register under VAT Act if the total turnover exceeds Rs.10Lacs.
Is there an option available to him to declare his total turnover and pay a flat rate of tax on such turnover? Thereby, he can be relieved from the filing of monthly VAT returns.
Please let me know the applicability in Karnataka.
I understand that the trader needs to register under VAT Act if the total turnover exceeds Rs.10Lacs.
Is there an option available to him to declare his total turnover and pay a flat rate of tax on such turnover? Thereby, he can be relieved from the filing of monthly VAT returns.
Please let me know the applicability in Karnataka.
19 April 2010
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