I purchased goods from other state (ie) CST purchase , My sales turn over is below 5 Lacs and the sales are made within the state. My question is weather i have to collect VAT on sales made with in the state. Can i claim the exemption on collecting VAT based on the rule, collection of VAT is not necessary if the sales is below 10 lacs.
Kindly help me in this Regards
It is not obligatory to register with sales tax dept. if your turnover is less than 10 lacs, but if you already have a TIN No., then you are required to collect the sales tax on the whole amount which is sold in the state wheather the amount of sales is 5 lacs or merely a 100 rs., it is senceless to argue in connection with collection of vat, you have to collect & deposite the same & also file a quertelly return.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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