Condition for not 25000 and 5000 deposit under mvat act
This query is : Resolved
CA Abhishek Singh
(Querist)
27 April 2012
Hello everyone,
one of my client requires vat no. but he does not want to pay 25000 and 5000 deposit because for rs.25000 set off will be available only after 2 years.
1. what are the sale/purchase limit that one should have to save above deposit.
2. can one apply for only CST Number( so that he can produce c forms and pay only 2%cst) and not MVAT number(his sales within maharashtra is less than 500000)
waiting for your reply urgently ?
one of my client requires vat no. but he does not want to pay 25000 and 5000 deposit because for rs.25000 set off will be available only after 2 years.
1. what are the sale/purchase limit that one should have to save above deposit.
2. can one apply for only CST Number( so that he can produce c forms and pay only 2%cst) and not MVAT number(his sales within maharashtra is less than 500000)
waiting for your reply urgently ?
CA CS Pawan Jajoo
(Expert)
28 April 2012
If your Sales Turnover crosses Rs. 500000/- or in case if you have OMS Purchase then if your turnover crosses 100000/-, then you can take registration by saving the 25000/- and 5000/-
Message likes :
1 times
13 May 2012
The expert is right and I agree with him
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