Dear all,
If an individual running a Proprietory Business, VAT Registration is Compulsory? If Yes, which are the Rules and conditions for the Financial Year 2013-14 and 2014-15 in Andhra Pradesh.
Regards
1 Replies
V N Rao
(Proprietor)
(45 Points)
Replied 25 June 2015
Vide section 17 of VAT Act, a dealer with an estimated taxable turnover of more than 5,00,000 and below 50,00,000 is liable for registration as TOT dealer.
Turnover in excess of 50 lakhs is to apply for registration as a VAT dealer.
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