What is the turnover limit for a dealer to apply for MVAT Registration Number? And how will the dealer know whether he has to pay VAT liability monthly/quarterly/half yearly?
Menu
MVAT Query
Replies (1)
1) The turnover limit for MVAT registration is Sales during the year should be more than Rs.5,00,000/- & there must be purchase of taxable goods of more than Rs.10,000/- however the if the limits were not crossed by the dealer, he can opt for Voluntary Registration by paying the Deposit of Rs.25,000/- which can be setoff against the liability in the first quarter, the balance deposit amount will be forfeited thereafter.
2) Every new registered assessee has to file his MVAT Return Quarterly.
Recent Threads
- Time allowed to buy another asset
- ITR not processed for the FY 2024-25
- Gift of money to my wife.
- Tax Audit If you show Loss
- GST Tax invoice Value Rs..234000
- Can I claim benefit under 54F if I sell my equity
- Income tax refund 25/26
- Who is responsible for paying GST Liability (If th
- Excess Payment on RCM
- AOC4 auto population of previous year data
Related Threads
CAclubindia
