Kiranam shop
For a new business dealing in Kiranam and variety store,whether trade license and vat registration is mandatory.and how to access the sales and purchase for the same unit ,for filing income tax return.and for this type of shop whether filing quarterly bat and sales tax return is mandatory
Replies (3)
And kindly confirm whether the purchase made by the business ,for example the business purchased 100 units of x items total bill amount is 12000 which includes 400 rs as vat.whether this 400 amount paid by the Kiranam shop has to filed vat return or it will be filed by the supplier.
If your turnover exceeds the mandatory limit as per your STATE VAT LAW , than required.
Moreover, if you are passing the burden of VAT to another party/ customer and claiming the credit of VAT paid to supplier than you will be required to file returns.
Mostly kirana stores in India are un-organised but it would be really advisable to take up trade licence/ register under shops and establishment Act.
Thanks Aditya Ji for ur valuable advice.
Recent Topics :
- Bill-to-ship-to material at client site, project c
- Export previously now to be considered domestic sa
- Pan surrender via online
- EPFO Portal Issue – Unable to Save Employee
- Plant & Machinary
- ITC reversal after supplier amended the recipient
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
Related Topics :
CAclubindia
