14 August 2012
One of my client is running a Medical Store and wish to get registered under MVAT.
My query is that when is compulsary registration attracted?
Is it when the sales exceeds 4 Lakhs or even if purchases exceed 4 lacs a dealer is liable to get registered?? And in such case the registration can be done without paying the deposit of Rs 25000.
16 August 2012
The sales turnover will crossing the limit of 1 cr. then it is mandatory to get registration. There are two ways to get VAT registration. First is volunteer registration.. to deposite 25000 and get registration. or Submit the bills to Sales Tax Department of Rs. 5 Lakh of sales and purchase.
CAclubindia
