HI ALL
The turnover of our firm in fy 2013-14 is 8.8 lacs .Is MVAT registration required for us?
Is the turnover limit 5 lacs or 10 lacs ?
please help
1 Replies
MANDHANA AND ASSOCIATES
(PARTNER)
(21 Points)
Replied 17 December 2014
TO limit is 10 lacs from 26-6-2014.Since to in your case in 8.8 lacs in fy 13-14 for which threshold limit was rs 5 lacs, you need to obtain rc.Since now it will be late application, you will get it from date of application and there will be unregistered period from date of crossing 5 lacs Turnover to date of application. Your also need to apply for condonation of dealy.
This response is on the assumtion that you don't deal exclusively in taxfree goods
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