For taxation and other regulatory requirements.

This query is : Open

Sanni Wadhwani (Querist)
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15 December 2016 Dear Sir/Mam,
I want to establish my manufacturing unit of leggings, school uniforms and other readymade garments.
I have some queries regarding this

1.Which is more benificial whether to go for a partnership firm or a proprietorship along with its consequences?
2. MP Vat rate applicable on leggings?
3. Threshold limit of taking a tin registration under mp vat.?
Pls. resolve my queries as soon as possible.
Thanking you,
Sanni Wadhwani,

CA RAKESH JESWANI

CA RAKESH JESWANI (Expert)
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16 December 2016 In my views: 1. proprietorship for saving from tax and compliances, LLP or company for having ease of outside finance and trust. 2. 5%. 3. turnover of 1 lac for taxable goods or 10 lac for all. for further query in detail contact us : rnjeswanibc785@gmail.com, 9923179548.

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Sanni Wadhwani

Sanni Wadhwani (Querist)
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16 December 2016 Can you please specify the section where i got the threshold limit of mp vat.
I have an confusion regarding this because many of says the threshold limit would be Rs. 500000.

CA RAKESH JESWANI

CA RAKESH JESWANI (Expert)
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16 December 2016 Correction: 1. The limit mentioned in point 3 is for Maharashtra vat. 2. For MP the registration threshold limit is Rs. 5 lac turnover. Regretful.

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