Sumith (Founder) (24 Points)
13 April 2011Hi,
I plan to import dusters from abroad and sell it via online portals like eBay. I'm hoping to have an initial sale of not more than 2 lakhs / annum.
Do I have to register for VAT or CST or Excise in Bangalore, Karnataka?
Your valuable information is highly appreciated.
Warm Regards,
Sumith
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 20 April 2011
to import the goods, u need PAN /IE Code/ VAT
to sale the goods u need PAN/VAT/CST ( mandatory if turnover exceeds 5 lacs otherwise optional)
but its preferred to have vat registered to claim back the Special Additional Duty paid at the time of import.
MAHENDRA KUMAR BAGRECHA
(FCA)
(1402 Points)
Replied 21 August 2011
Hi,
You are required to get VAT registration even if you are doing trading online. Once you sell taxable goods in any state, you need to get registration and collect and pay vat to the state(subject to certain conditions).
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
CAclubindia
