One client has a retail garment shop
Last yaer ( 2013-14) annual turnover crossed 15 lacs
Already this year purchase is 4.5 lacs (April - jUly 14)
Shall i go for voluntary registration?
If compulsory registartion then , do i need to pay on pre registration purchase amount vat?
Set off of pre registration will be allowed ?
Shall i advise him to start a fresh set up so that old mess is ignored?
You are liable for compulsory registration since the turnover will soon cross 5 lacs.
You will not be liable to pay VAT on pre registration purchases.
You will not be eligible to take set off for the purchases made during unregistered period.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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