- Is it necessary that all VAT payers should get registered under VAT act?
- What is the turnover limit to apply VAT ?
Registration of vat
Sneha Sree Pujari (Student) (159 Points)
31 March 2012
Sneha Sree Pujari (Student) (159 Points)
31 March 2012
Devendra
(Chartered Accountant)
(4775 Points)
Replied 31 March 2012
The Turnover Limit for VAT Registration is Rs. 5 lakhs.
Regards,
Devendra
mounika
(semi qualified chartered accountant)
(981 Points)
Replied 31 March 2012
not all thr VAT payers. only those who crossed the turnover limit of abovr 5laks
AKASH SINGH
(CA ,CS, ICWAI, (FINAL))
(35 Points)
Replied 31 March 2012
Sneha Sree Pujari
(Student)
(159 Points)
Replied 31 March 2012
Thank you Devendra, Mounika & Akash..
Devendra
(Chartered Accountant)
(4775 Points)
Replied 31 March 2012
You can Thank using the "Thank User" icon.
praveen
(Chartered Accountant)
(6971 Points)
Replied 01 April 2012
In karnataka the limit is 2 Lakhs only
Kalpesh Chauhan,
(Tax Assistant (Accounting Technician CA FINAL CS PROF. PROG. B.Com))
(8310 Points)
Replied 02 April 2012
| Originally posted by : AKASH SINGH | ||
 |
It is quite sensitive whether to get registration or not. There are two options available for Registration A) Compulsory B) Voluntary further registration becomes compulsory when a)TAXABLE ANNUAL TURNOVER exceeds Rs. 10 lakhs b)dealer is IMPORTER or liable to be registered under CST 1956 Explanation (White Paper initially allowed limit of 5 lakhs, whereas states allowed this limit to 10 lakhs provided the state will bear revenue loss above 5 lakhs) Dealer can also get itself registered voluntarily even if turnover doesn't exceed 10 lakhs. But i suggest to get registration in order to avail input tax credit and also credit will be available to purchases from you. Regards Akash Singh |
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