04 November 2009
As we all know that VAT Regn is compulsory if ur Sales Turnover exceeds Rs.5lacs. MVAT Registration can be done vuluntsrily or on turnover basis when the turnover exceed Rs.5lacs. My querry is that suppose a dealer has started a new business and his first sale bill is of apx Rs.7lacs so what will be his liability on sales exceeding Rs.5lacs
CAclubindia
