VAT Registration?

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This query is : Resolved

YADAV SANTOSH (Querist)

01 June 2009 hello!

a retailer has having his turnover 448678 and 478651 for the fy 2005-06 and 2006-07 respectively.

now filling a income tax return for fy 2007-08 his turnover has exceeded 5 lakh which is the limit for VAT registration but he is not reg for VAT.

what would the implications of filling a return furnishing a turnover of above 5 lakh but without a VAT registration.

kindly suggest.

Ca.Manish Kulkarni

Ca.Manish Kulkarni (Expert)

01 June 2009 As the dealer exceeds prescribed limit required for VAt Registration,he shall not be able to get input credit and have to pay Tax on the sales amount.Now u cann`t file your VAt return without VAT TIN.
After getting TIn Y can be Able to File Your VAT Return.
After getting vat TIN you can also apply for ADM Relief.

CA.Varun Ranjan

CA.Varun Ranjan (Expert)

01 June 2009 Dear yadav

you have file income tax return dost matter, but u have contravention in VAT act, so get registered in VAT , in VAT u have to pay penlty but no problem, u may go for releif,

YADAV SANTOSH

YADAV SANTOSH (Querist)

01 June 2009 thanks very much!

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