Registration of 0% vat product

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Querist : Anonymous

Querist : Anonymous (Querist)

09 January 2014 I will be dealing a product that has 0% Vat (solar water heater).They are asking me to get TIN.Do I need to get registered even when my turnover does not exceed 5 lacs. Since it is a 0% VAT product what are other procedure to follow. Please guide.

CA Hardik Bunha

CA Hardik Bunha (Expert)
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09 January 2014 yes you have to registered under vat act.

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Querist : Anonymous

Querist : Anonymous (Querist)

09 January 2014 will you please elaborate with details & other procedural requirement??? Do reply.

MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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09 January 2014 For local sales and purchases Rs5 lakhs is the threshold.But for manufacturers Rs1 lakh is threshold. So,you have to register under MVAT.....mjk

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Querist : Anonymous

Querist : Anonymous (Querist)

09 January 2014 well sir but I will not be the manufacturer I will be the dealer.

MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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10 January 2014 When you are doing only local sales and purchases Rs5 lakhs is the limit even if it is exempt,but having at least Rs10,000/ worth of taxable sale or purchase in a year.When you do not have any taxable sale or purchase upto Rs10,000/- in a year,you need not register till the sales cross Rs 5 lakhs......mjk

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