For taxation and other regulatory requirements.
This query is : Open
Sanni Wadhwani
(Querist)
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,
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
(Expert)
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
(Querist)
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.
I have an confusion regarding this because many of says the threshold limit would be Rs. 500000.
CA RAKESH JESWANI
(Expert)
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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