Mvat registration

TO limit is 10 lacs from 26-6-2014.Since to in your case in 8.8 lacs in fy 13-14 for which threshold limit was rs 5 lacs, you need to obtain rc.Since now it will be late application, you will get it from date of application and there will be unregistered period from date of crossing 5 lacs Turnover to date of application. Your also need to apply for condonation of dealy.

This response is on the assumtion that you don't deal exclusively in taxfree goods