Dear All,
Can anybody tell me that what are the documents are required to be submitted at the time of registration under DVAT Act olf sole propereitorship. Please reply fast as it's urgent......
Thanx & regards
Anupam Sharma
Anupam( Upcoming CMA) (Internal Audit Executive at Frankfinn Institute of Air Hostess Training) (302 Points)
09 February 2013Dear All,
Can anybody tell me that what are the documents are required to be submitted at the time of registration under DVAT Act olf sole propereitorship. Please reply fast as it's urgent......
Thanx & regards
Anupam Sharma
Ganeshbabu K
(Audit and Tax Advisory)
(48564 Points)
Replied 09 February 2013
PROCEDURE FOR REGISTRATION:-
1.An application for Registration is to be made in (Form DVAT-04) with the prescribed fee.
2.A security not exceeding Rs 1 lakh is to be submitted along with the application for registration. The security amount can be reduced by a maximum of Rs 50,000 if you can provide certain documents with your registration application.
3.The reduction in the security amount allowed for various documents is as follows.
Last paid electricity bill in your name, Rs 10,000;
Last paid telephone bill in your name, Rs 5,000; A PAN number, Rs 10,000;
A document as proof of ownership of principal place of business, Rs 30,000;
A document as proof of ownership of residential property, Rs 20,000; and
A notarized photocopy of the passport of proprietor/ managing partner or managing director, Rs 10,000
4.Security may be in cash, bank guarantee, post office cash certificates, bonds/debentures, dealers' surety, or mortgage of immoveable property. The surety for registration may be revised by the Commissioner under some circumstances.
5.If case no reply is received within 15 days of making your application, you are automatically registered and will be entitled to receive a registration certificate in (Form DVAT-06) from the Commissioner
6.Once you are registered, a Tax Identification Number (TIN) will be issued, which should quoted in all dealings with the department to enable processing of tax affairs correctly and promptly.
7.If you are not registered within 15 days of making the application, you will receive a notice in (Form DVAT-05) from the Commissioner, setting out the reasons why your application is proposed to be rejected.
8.You can respond to this notice within the time provided in the notice. If you do not respond to the Commissioner's notice, your application for registration will be rejected automatically.
9.If the Commissioner is satisfied with your reply, he will register you and issue you a Registration Certificate in (Form DVAT-06).
10.If your application is rejected, you can object to the decision within two months.
11.After registration, you may expect a visit from a DVAT official who may verify the particulars of your business.
Ganeshbabu K
(Audit and Tax Advisory)
(48564 Points)
Replied 09 February 2013
PLEASE FIND THIS NOTE:-
You are required to register under DVAT if:
Your turnover in the year preceding the commencement of the DVAT Act exceeded Rs 5 lakhs;
Your turnover in the current year exceeds Rs 5 lakhs;
You make any interstate sale; or
You make interstate purchases for resale in Delhi.
For registration purposes, your turnover does not include
Sales of capital assets;
Sales made in the course of winding up your business; and
Sales made in the course of a permanent diminution of your business.
Kaushik Vinod
(CA IN PRACTICE)
(1953 Points)
Replied 19 February 2013
1 | Resolution to the effect of VAT registration in Delhi and also containing the authorisation for a particular person to undertake | ||||||||||||
all relevant formalities for DVAT registration. | |||||||||||||
2 | If dealer is liable for registration due to becoming liable to pay tax under CST: | ||||||||||||
First Purchase Bill | |||||||||||||
First Inter state sale bill | |||||||||||||
Copy of G.R./ R.R. relating to dispatch of goods | |||||||||||||
Photocopy of the draft/ cheque received | |||||||||||||
Bank Statement consisting of such payment | |||||||||||||
3 | Proof of Incorporation of the Co., Partnership deed etc. in cases of constitutions other than proprietary.( MOA and AOA) | ||||||||||||
4 | Copy of rent agreement/ proof of legal possession of the principal place and additional places of business at Delhi and | ||||||||||||
also NOC from Lessor.( NOC from the Land Lord not Required) | |||||||||||||
5 | Copy of PAN of firm/Company | ||||||||||||
6 | Copy of VAT & CST registration certificate of other locations of the company. | ||||||||||||
7 | Photographs of the Prop./Partner/Directors. | ||||||||||||
8 | Copy of PAN of Prop/Partner/Directors/Autorised Signatory | ||||||||||||
9 | Details of Bank account in Delhi with Account number, bank name and branch and MICR code. | ||||||||||||
10 | Copy of Cancelled Cheque | ||||||||||||
11 | Application form of VAT (DVAT 04) & CST (Form A) for registration duly signed by the authorised Person | ||||||||||||
12 | Details of authorised signatory in Delhi with his PAN and address proof and photograph. | ||||||||||||
13 | List of goods to be traded | ||||||||||||
14 | Surety of Rs. 1 Lakh in Form DVAT 12. ( The Surety has been waived in DVAT up to 31-03-2013) |
RAJ KUMAR BHANDARI
(FINANCE)
(165 Points)
Replied 20 February 2013
REGISTRATION UNDER DVAT ACT
COMPULSORY, IF: -
HOW TO REGISTER:-
RIGHTS AND DUTIES OF A REGISTERED DEALER
But up to 31-03-2013, no security amount is needed to get TIN in DVAT