Wanna open prop. firm and take vat no.

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NISHANT (Querist)

30 August 2013 Dear Sir, i wanna open my prop. firm, so first will i have to open bank account (current or saving) on my firm name or first i will have to get the vat no.?? also let me know for registeration of vat one should have cst & pf certificate or first vat certificate will require. ?? and if i go for normal registration (& not voluntary registration) i will have to provide bills of sales more than Rs 5 lac then only i will be able to register for vat???

CA Mayank Ogrivala

CA Mayank Ogrivala (Expert)

30 August 2013 Please let me know the name of the state you belongs....

NISHANT

NISHANT (Querist)

30 August 2013 Maharashtra.....thane

MJ Krishnamurthy

MJ Krishnamurthy (Expert)

31 August 2013 You will have to open a current bank a/c before registration. First VAT registration,when you cross the threshold mark of sales of Rs 5 lakhs. If you are doing interstate sales and purchases also no such limit applies.Immediately you have to go for VAT and CST registration. PF registration as per PF Act.Sale bills need not be provided to the department for getting a registration. Seeing the monthly turnover,if you expect your sales to cross Rs5 lakh in that financial year you can go for normal registration. As you may know this can be done on-line only....mjk

NISHANT

NISHANT (Querist)

01 September 2013 Do I have to register ma firm wid government before opening current account??? If yes den ver?? Nd if no then what document of firm shall have to provide for opening bank current ac ....also if I want to save money and go for normal registration as voluntary reg. Is costly compare to normal.....can I show some sales bills above five lakh and go for normal registration of vat and cst after opening the bank current account on firm name???

NISHANT

NISHANT (Querist)

MJ Krishnamurthy

MJ Krishnamurthy (Expert)

01 September 2013 You open a current a/c and then go for registration. Voluntary registration is costlier than normal registration.For interstate transactions no limit is fixed.Visit the web site stated above and follow their instructions.....mjk

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