I want to start my business again

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ViJaY

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24 Points Posted on 15 September 2014

Hi,

I start my business at 2002 as a graphic designer, graphic design it's a small division of printing press then after 4 years i start stationary supply in industrial area, so i apply for M-VAT Tin and CST Tin number. i do businees only 2 years with industrial area as a supplier. then i am wealthly unable to do more so i stop it. but my accountant say's me every year to fill your VAT return. so i done also upto 2008 to 2012, but i have facing a problem to uploading my return excel file so stop.

now i want to start my business as a designer and supplier so what do now. start with new business registration or go with old bussiness registration.

current status is about my business
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i have shop-act licence with 2002 to till date
M-VAT & CST with return filling 2006 to 2012
and nothing any other licence such and proffesinal tax, service tax

Replies (3)

CA Ameya Anil Kulkarni

9820430059

70 Points Posted on 19 September 2014

I would suggest to go with old registration and continue by uploading all pending returns. Coz in VAT / CST number department links PAN number. So if you decide to go with new company and new number , you may have problem due non filling of previous returns. Currently department has provided option to file all pending VAT / CST returns with penalty of just Rs. 1000/- per return instead of Rs. 5000/- per return if all tax dues are paid along with interest. You may take advantage of scheme. Request other experts to opine if information is not correct. - Ameya Kulkarni (98204 30059)

CA Ameya Anil Kulkarni

9820430059

70 Points Posted on 19 September 2014

Just one addition to above information - The mentioned scheme is applicable only for returns prior to February 2014. So for March 2014 you have to pay Rs. 5000/- - Ameya Kulkarni (98204 30059)