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abhishek (CA FINAL)     15 December 2014

Mvat registration

HI ALL

 

The turnover of our firm in fy 2013-14 is 8.8 lacs .Is MVAT registration required for us?

 

Is the turnover limit 5 lacs or 10 lacs ?

 

please help



 1 Replies

MANDHANA AND ASSOCIATES

MANDHANA AND ASSOCIATES (PARTNER)     17 December 2014

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

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