Vat on grossary item
This query is : Resolved
08 June 2016
if any one has retail business how he will charge vat on goods and what is the eligibility criteria for vat registration.
Murtaza I Bhagat
(Expert)
09 June 2016
Eligibility for retail business is same as others. If T.O cross 5 Lacs in any F.Y. then Business has to registered under vat act and pay vat as per rules. you can charge vat in your retail bills if you don't apply for lumpsum registration and you goods value + vat will not be more than MRP.
23 July 2016
IF ANY SELLER DONT PREPARE BILLS THEN IS THERE ANY MISCONDUCT IF TURNOVER MORE THEN 5 LAKHS.
Murtaza I Bhagat
(Expert)
23 July 2016
Billing is require to give or prepare for daily sales
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