Dear CAs,
I am planning to get into a new business and have to plan ahead of time for all the taxes to factor into our price schemes.
To start with, we are getting into trading of Unprocessed Honey. Our procurement is going to happen in UP where tax is exempted on Raw Honey. For our initial orders, we will be selling in UP itself. So it is clear we dont levy any tax. But in this case, do we need a TIN number for UP, if we continue to do this forever. (We are based in Delhi but will be basing the company in UP to get the tax benefit)
Let us suppose Tax is exempted in Uttarakhand also. If we plan to sell our raw honey in Uttarakhand, do we need to add CST to our bills? And if we sell to any other state (where we have 4% tax on raw honey) do we need to add CST too.
The day we start processing it. Will all VAT / CST will be applicable as in case of any other packaged product?
I want to know the immediate numbers I would need TIN / CST to do this if I am doing transaction in tax exempted state.
Please help.
Thanks
ES