Regarding CST/TIN

Tax queries 1126 views 8 replies

Maneesh

25 Points Joined May 2011

Hi all,

One of my friend told me that,this site is really helpful for TAX and account related queries. So,i hope some one will help me to clear my basic question.

On first week of april,i got my CST and TIN no for my own business. But,i didn't open any current account(using my company name) till now and also,my own business is currently on HOLD(from april).

Currently,I'm working in a MNC company. I got transfer now. So,i couldn't able to start my own business as i planned to start on april. Due to some financial reason,i have to stick with this MNC company for 5- 7 months. So,i may setup my company again on october or November(Same place - where i registered to get TIN and CST).

My question is:

1. I'm not going to file any tax details(from APRIL to NOV) as my business is current on HOLD and not even opened any bank account(Current) using my company name.

Will this create any problem? Also,Is that fine - if come back on november and open a bank account(with my company name) using my TIN no - which i got on APRIL and starting this new business.

Thanks in advance.

- M

Replies (8)

U S Sharma

glidor@gmail.com

21068 Points Joined January 2010

if your business is NIL, then drop a letter to STO of your respective VAT office that you have obtained TIN/VAT, but due to internal set up delay you are delaying the business for 5-6 months and will inform the office again when it re-starts.

But as you have obtained the VAT/TIN, you have to file the returns in time, ( even nil returns), coz non filing of returns will make u defaulter.

Regarding bank accounts, its your own wish to open the same with your ease.

Harpreet

* * * * * *

1670 Points Joined March 2008

agreed with above reply

KIYOSH

TAX CONSULTANT

332 Points Joined July 2009

Agree with Mr. Sharma

senthil

student

116 Points Joined March 2008

I am agreeing with Mr. Sharma,

we have to file nil return during the period, if it goes more then 6 months, CTO is having power to issue notice regarding, Why the Registration not to be cancelled..?

CA Rakesh Garg

Asst. MGR Taxation

510 Points Joined April 2009

yes , vet return must to be file quarterly even wid nil

Maneesh

25 Points Joined May 2011

Hi Guyz,

First of all,thanks for the quick response.

I think,its better to file with NIL return,instead of sending a STO letter to VAT office.

I can file NIL returns via online Right? or should i visit to office?

Thanks again,

-M

U S Sharma

glidor@gmail.com

21068 Points Joined January 2010

Originally posted by : Maneesh
	Hi Guyz, First of all,thanks for the quick response. I think,its better to file with NIL return,instead of sending a STO letter to VAT office. I can file NIL returns via online Right? or should i visit to office? Thanks again, -M

return filing is mandatory,

if u dont intimate the STO, they will depute their inspectors to visit your place and investigate the reason for no business,

to avoid such unpleasent situation, intimate the STO, you dont have to sit and discuss with him, but just submit a letter with reason of delay

senthil

student

116 Points Joined March 2008

In TN VAT (tamilnadu).. you can register get your TIN Online, and temproary password will be given in 2 days, after that you may file your E-Return, but however you have to send a copy to your Circle in Person or by Courier or Post

Regards,

Senthil Kumar