17 June 2011
A person in Maharashtra planning to start a business expects his very first sales invoice value to be of 10 Lac but he cant issue an invoice unless he is registered under MVAT.Unless he issues his first invoice he doesnt crossed the threshold limit.Now,if he opts for Voluntary registration, he is required to pay 25000 as deposit & Fee 5000 whereas in case of threshold registration the Fee is 500 Only. Is there any way he can get threshold registration & thus avoid paying deposit & also save Rs.4500?
20 June 2011
Mr. Author, There is no way to make a high value sale without proper tax invoice which should have a registration number. Therefore you should go for voluntary registration and pay fees and deposit as per law. MJK
CAclubindia
