Reg tin no
This query is : Resolved
12 February 2017
dealing in tax paid and tax free items for sale is there any requirment to obtain Tin no clarify plz,also about turnover tax
20 July 2025
For Punjab state:
TIN Number Requirement:
If you are a dealer in goods, whether tax-paid or tax-free, and your turnover exceeds the threshold limit prescribed under Punjab VAT laws, you are required to register and obtain a TIN (Taxpayer Identification Number).
The threshold limit usually is Rs. 5 lakhs or as notified by the state government.
Even if you deal partly in tax-free goods, you may still require registration if turnover crosses threshold.
Turnover Tax:
Punjab VAT Act provides for turnover tax on dealers who do not maintain proper accounts.
Also, turnover tax can be applicable to dealers trading in specified goods or falling under certain categories.
It’s a simpler way of tax for small dealers and may attract a fixed rate on gross turnover instead of detailed VAT calculation.
Summary:
Yes, if your turnover (tax-paid + tax-free goods) exceeds the threshold, you need to get TIN registration in Punjab.
Turnover tax may be applicable depending on your business category and accounts maintenance.
TIN Number Requirement:
If you are a dealer in goods, whether tax-paid or tax-free, and your turnover exceeds the threshold limit prescribed under Punjab VAT laws, you are required to register and obtain a TIN (Taxpayer Identification Number).
The threshold limit usually is Rs. 5 lakhs or as notified by the state government.
Even if you deal partly in tax-free goods, you may still require registration if turnover crosses threshold.
Turnover Tax:
Punjab VAT Act provides for turnover tax on dealers who do not maintain proper accounts.
Also, turnover tax can be applicable to dealers trading in specified goods or falling under certain categories.
It’s a simpler way of tax for small dealers and may attract a fixed rate on gross turnover instead of detailed VAT calculation.
Summary:
Yes, if your turnover (tax-paid + tax-free goods) exceeds the threshold, you need to get TIN registration in Punjab.
Turnover tax may be applicable depending on your business category and accounts maintenance.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
