VAT Registration?
This query is : Resolved
01 June 2009
hello!
a retailer has having his turnover 448678 and 478651 for the fy 2005-06 and 2006-07 respectively.
now filling a income tax return for fy 2007-08 his turnover has exceeded 5 lakh which is the limit for VAT registration but he is not reg for VAT.
what would the implications of filling a return furnishing a turnover of above 5 lakh but without a VAT registration.
kindly suggest.
a retailer has having his turnover 448678 and 478651 for the fy 2005-06 and 2006-07 respectively.
now filling a income tax return for fy 2007-08 his turnover has exceeded 5 lakh which is the limit for VAT registration but he is not reg for VAT.
what would the implications of filling a return furnishing a turnover of above 5 lakh but without a VAT registration.
kindly suggest.
01 June 2009
As the dealer exceeds prescribed limit required for VAt Registration,he shall not be able to get input credit and have to pay Tax on the sales amount.Now u cann`t file your VAt return without VAT TIN.
After getting TIn Y can be Able to File Your VAT Return.
After getting vat TIN you can also apply for ADM Relief.
After getting TIn Y can be Able to File Your VAT Return.
After getting vat TIN you can also apply for ADM Relief.
01 June 2009
Dear yadav
you have file income tax return dost matter, but u have contravention in VAT act, so get registered in VAT , in VAT u have to pay penlty but no problem, u may go for releif,
you have file income tax return dost matter, but u have contravention in VAT act, so get registered in VAT , in VAT u have to pay penlty but no problem, u may go for releif,
01 June 2009
thanks very much!
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