In Form 1 for the new registration of VAT there is a column of Last Year & Current Year Sale to be filled up if no sale is possible without vat registration then What sale figure it is talking about.There is also a column of purchase like sale and I understand during purchase the input vat is to be paid. Please clarify the sale point.
31 August 2011
without registration the dealer is not eligible to charge the vat/cst, so its not tax paid,
also though the purchase is vat paid, but in absence of vat regisration, the input credit is not available, so they are asking to bifurcate the purchase made from registered and unregistered dealers separately
01 September 2011
There is minimum turnover which entitles a trader to register under VAT. The form talks about that sales when you have crossed the minimum limit and what is the turnover.
CAclubindia
