Easily Obtain VAT Registration
VAT registration or TIN number is mandatory for all entities involved in the sale of goods and products. VAT regulations are unique to each State.
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Value Added Tax (VAT) Registration or TIN Registration is a tax registration essential for businesses trading or manufacturing goods in India. VAT Registration replaced Sales Tax in India and is synonymous with CST Registration and TIN Registration. VAT is a multi-stage tax with the provision to permit 'Input tax credit (ITC)' on tax at an earlier stage, which can be appropriated towards the VAT liability on subsequent sale. For that reason, VAT is ultimately borne by the client. VAT is collected and governed by the State Government, so every State Government in India has distinct rules applicable for their State based on the type of goods manufactured and sold. VAT Registration is necessary in most states for traders or producers having a turnover of more than Rs. five lakhs per year (Rs.10lakhs in some states).
Those entities have VAT or TIN Registration must then file VAT returns on time to avoid penalty. VAT is implemented by the State Governments. Therefore}, the VAT return due date and VAT payment due date differs from state to state. VAT returns are mostly due monthly, quarterly or annually. Our VAT professionals can help you compute your VAT payments and e-file the VAT returns and keep you in compliance with VAT rules. For goods exported from India, VAT is not applicable.
WHAT YOU NEED TO KNOW
Value Added Tax
Value Added Tax (VAT) is a tax levied on revenue of goods in India. Manufacturers and traders must obtain VAT Registration, if they have annual sales of more than Rs. 5 lakhs (Rs. 10 lakhs in some states).
VAT / TIN / CST are the Unique
VAT / TIN / CST utilize the same unique 11 digit number. For that reason, VAT / TIN / CST are the exact same and obtaining VAT Registration from the State authorities will do as the TIN or CST Registration also.
VAT Due Dates
VAT Payments need to be deposited in designated banks quarterly in case of Proprietary Firms, LLPs or Partnership Firms, and monthly in the situation of other type of business entities like Companies VAT Returns need to be filed monthly on the 20th.