jaypreet (Partner) (90 Points)
09 September 2011Dear all,
I am reseller, I want to do import of many textile, computer products, sports items and mobile, Can i apply for an IE code if I dont have a sales tax number/ vat number??
Thanks
Jay
Pathik
(.)
(83 Points)
Replied 09 September 2011
you can apply for IE code..but than also for selling purpose you have to take VAT/sales tax no. as its cumpolsory for dealers having more than 5 lakhs turnover..
So preferable to take both IE code and sales tax registration no.
jaypreet
(Partner)
(90 Points)
Replied 10 September 2011
so i can apply for IE code first and later after 2 or 3 months I canapply for VAT...It should not create a problem right.
Thanks
Jay
RAMESH KUMAR VERMA
( CS PURSUING )
(43853 Points)
Replied 10 September 2011
Jaypreet ,
in view of above said situation , mandatory apply for IEC code , please tell your turnover.
RAMESH KUMAR VERMA
( CS PURSUING )
(43853 Points)
Replied 10 September 2011
for more info :
Policy Circular No.10 (RE-2010)/2009-14 Dated the 31st December,2010
Pathik
(.)
(83 Points)
Replied 10 September 2011
@ Jay,
Yes it should not be a problem if you apply for VAT later on.
But preferable to take VAT no. as soon as possible once u start importing.
jaypreet
(Partner)
(90 Points)
Replied 11 September 2011
@ verma ji,
I am just starting my business, My expected turnover will be less than 5 lakhs, but i am not sure..It might increase also depending on the situation.
CAclubindia
