I want to start my business again

Mahavat 607 views 3 replies

ViJaY

Others

29 Points Joined 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

75 Points Joined February 2011

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

75 Points Joined February 2011

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)