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Read MoreValue Added Tax (VAT) Registration or TIN Registration is a tax registration necessary for companies selling or producing products and also agencies in India. VAT is a muti-stage tax focused on the "Value Added Theory." VAT is obtained and is regulated by the Government of the State, meaning that each Government of the State of India has different laws specific to the State on the basis of the form of products produced or sold. For most nations, VAT registration is compulsory for merchants or producers with a revenue of more than Rs.20 lakhs (Rs.10 lakhs earlier) either in the present year or in the preceding year.
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Those people who have VAT or TIN Registration must submit VAT returns on time in order to escape fines. VAT shall be carried out by the Governments of the Republic. As a result, the VAT refund due date and the VAT bill due date depends on the state. VAT returns are often expected on a weekly, quarterly or annual basis.
Rajput Jain & Associates’ VAT expert team included Advocate and CA's. We are providing Vat filling Services in Delhi; Rajput Jain & Associates can help you file e file your VAT return online. We will work throughout beginning to end in the fields where we practice. We include the aforementioned VAT relevant facilities:
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Use Reminded to know more about your due dates for VAT return filing due date and VAT payment due date.
“If your Organization has received any notice from VAT Department, does not worry, Please call us, we will help you. We are presently handling VAT work of many MNC's with demands of over Crores and our team has successfully managed to reduce the demand. We are very nominal in Pricing and will offer you best services as always.”
For any information / query regarding VAT return, Contact Us
Rajput Jain & Associates can help your business file VAT return and deposit VAT payments on time.
RJA VAT Expert will collect the necessary information and documents for preparation of VAT return for your business
Based on the documents and information presented, Rajput Jain & Associates’ VAT expert will prepare your VAT return and send for your approval.
Once the VAT return is verified and approved by you, our VAT expert will file your VAT return with the sales tax department in your state.
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What is VAT?
VAT is value added tax, a tax levied on the sale of goods in India. Since VAT is a state regulated tax, all the provisions regarding this tax is made in accordance with state. Each State in India has unique VAT Regulation and different tax rates are applicable for different types of products. Therefore the VAT Tax Rate and Exemptions will be unique to each State and type of goods sold.
Who has to pay Service Tax?
Since service tax is an indirect tax, it is paid by the final consumer. A person, providing services, has to levy service tax on the amount of service charge. Also, small scale service providers who provide less than Rs.10 lakhs of taxable service a year is exempt from service tax.
Who has to pay VAT?
VAT is ultimately borne by the end consumer. At each stage, the person purchasing the goods must pay VAT on its purchase price and collects VAT from his customer on sale price. Thus a dealer must pay tax on the value addition by him.
What is the VAT rate?
The VAT rate will depend on the type of goods being sold and the State in which the goods is being sold. Thus it will be appropriate to refer the state specific provisions regarding application of VAT Rate on different commodities.
What is VAT registration?
VAT Registration is a State level registration for paying VAT, which is mandatory for manufactures and traders having an annual turnover of more than Rs.20 lakhs in Delhi (previously Rs.10 lakhs). VAT Registration gives the manufacturer or trader a unique 11 digit number that would be required for subsequent VAT Compliance, VAT Filing and other matters incidental to VAT or Sales Tax or Central Sales Tax.
What is TIN?
TIN stands for Tax-Payer Identification Number, which is provided by State Govt. to dealer asa symbol of registration. It is unique in all over India. All the proceedings related to sales tax either VAT or CST is identified with TIN.
What is CST Registration?
Any dealer, who wants to transact at inter-state level, must obtain CST Registration for complying CST Act. CST is chargeable in the state from where the movement of goods is being started. For Registration in CST, some legal formalities is to be fulfilled in addition to VAT Registration. All the proceedings are to be done with TIN.
Who must obtain VAT registration?
VAT Registration is mandatory for manufactures and traders having an annual turnover of more than Rs.20 lakhs in Delhi (previously Rs.10 lakhs).
What are the documents required for obtaining VAT Registration?
To obtain VAT Registration, following information is required-
(Please contact a Rajput Jain & Associates’ Representative to know the requirements for your State.)
How long does it take to obtain VAT registration?
VAT Registration is issued by the State Government. Therefore, based on the State, the processing time for obtaining VAT Registration will differ. In general, VAT Registration can be obtained in 15 - 20 working days.
Who shall be liable to obtain TIN (Tax Identification Number)
Every person,
How to pay VAT Tax?
VAT payments can be made at specified branches of designated banks. The list of designated banks can be obtained from the Central Excise or Sales Tax office.
What is the VAT rate?
Delhi VAT Tax Rates
In Delhi VAT Tax Rates are levied under seven categories. The Delhi VAT Tax Rate schedule determines which goods full under each of the seven category and the VAT tax rate associated with that category.
When should VAT payments be deposited?
VAT payments must be deposited by Proprietary Firms, LLPs and Partnership Firms quarterly. Other entities are required to make VAT payment monthly.
When should VAT Returns be filed?
VAT returns are due on the 20th of every month. The previous months VAT information must be filed on the 20th of every month.
Value Added Tax
Value Added Tax (VAT) is a tax levied on the sales of goods in India. Manufactures and traders should obtain VAT Registration, if they have annual sales of more than Rs. 5 lakhs (Rs. 10 lakhs in some states).
End Consumer bears VAT
All purchasers of goods in India must pay VAT. However, at each stage, the person purchasing the goods is allowed to set-off the VAT paid against the VAT liability on subsequent sale. Thereby making the end consumer pay the VAT.
VAT / TIN / CST are the Same
VAT / TIN / CST utilize the same unique 11 digit number. Therefore, VAT / TIN / CST are the same and obtaining VAT Registration from the State authorities will suffice as the TIN or CST Registration also.
State Level Tax
VAT is determined and collected by the State Governments. Therefore, each State has a different VAT Regulation based on the type of goods sold. Therefore, it is best for businesses to be aware of the State's VAT Regulation applicable to them.
VAT Due Dates
VAT Payments must be deposited in designated banks quarterly in case of Proprietary Firms, LLPs or Partnership Firms and monthly in the case of other type of business entities like Companies. VAT Returns must be filed monthly on the 20th.
NO VAT on Exports
For goods exported from India, VAT is not applicable. Therefore, exporters of goods are not required to pay VAT. However, it is advisable for exporters to obtain VAT registration.
What are the basic documents which should be readily available with a dealer & for which period ?
There are some information in the form of Books of Accounts which must be kept under Rule 42 of DVAT Rules, 2005 viz. Sale/Purchase Invoices, DVAT 30 & 31, documents in support of movement of goods i.e. GR/RR, returns filed, copy of balance sheet, cash book, stock register etc. Though books of accounts for last four years should be kept at the business premises, however, during survey, the dealer should at least produce books of accounts for the last financial year and the current financial year.
Under what circumstances the business premises of a dealer can be sealed during Survey ?
Some of the guiding principles of sealing are detailed below:
How to pay VAT Tax?
VAT payments can be made at specified branches of designated banks. The list of designated banks can be obtained from the Central Excise or Sales Tax office.
When should VAT payments be deposited?
VAT payments must be deposited by Proprietary Firms, LLPs and Partnership Firms quarterly. Other entities are required to make VAT payment monthly.
When should VAT Returns be filed?
VAT returns are due on the 20th of every month. The previous months VAT information must be filed on the 20th of every month.
What is the procedure for registration of VAT / CST? TIN
STEPS BY STEP PROCEDURE FOR REGISTRATION UNDER THE DELHI VAT ACT-
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