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Registration of vat

Sneha Sree Pujari (Student) (159 Points)

31 March 2012

Is it necessary that all VAT payers should get registered under VAT act?
What is the turnover limit to apply VAT ?

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7 Replies

Devendra (Chartered Accountant) (4780 Points)
Replied 31 March 2012

The Turnover Limit for VAT Registration is Rs. 5 lakhs.

Regards,

Devendra

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mounika (semi qualified chartered accountant) (981 Points)
Replied 31 March 2012

not all thr VAT payers. only those who crossed the turnover limit of abovr 5laks

AKASH SINGH (CA ,CS, ICWAI, (FINAL)) (35 Points)
Replied 31 March 2012

It is quite sensitive whether to get registration or not. There are two options available for Registration A) Compulsory B) Voluntary further registration becomes compulsory when a)TAXABLE ANNUAL TURNOVER exceeds Rs. 10 lakhs b)dealer is IMPORTER or liable to be registered under CST 1956 Explanation (White Paper initially allowed limit of 5 lakhs, whereas states allowed this limit to 10 lakhs provided the state will bear revenue loss above 5 lakhs) Dealer can also get itself registered voluntarily even if turnover doesn't exceed 10 lakhs. But i suggest to get registration in order to avail input tax credit and also credit will be available to purchases from you. Regards Akash Singh

Sneha Sree Pujari (Student) (159 Points)
Replied 31 March 2012

Thank you Devendra, Mounika & Akash..

Devendra (Chartered Accountant) (4780 Points)
Replied 31 March 2012

You can Thank using the "Thank User" icon.

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praveen (Chartered Accountant) (6971 Points)
Replied 01 April 2012

In karnataka the limit is 2 Lakhs only

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Kalpesh Chauhan, (Tax Assistant (Accounting Technician CA FINAL CS PROF. PROG. B.Com)) (8311 Points)
Replied 02 April 2012

Originally posted by : AKASH SINGH
	It is quite sensitive whether to get registration or not. There are two options available for Registration A) Compulsory B) Voluntary further registration becomes compulsory when a)TAXABLE ANNUAL TURNOVER exceeds Rs. 10 lakhs b)dealer is IMPORTER or liable to be registered under CST 1956 Explanation (White Paper initially allowed limit of 5 lakhs, whereas states allowed this limit to 10 lakhs provided the state will bear revenue loss above 5 lakhs) Dealer can also get itself registered voluntarily even if turnover doesn't exceed 10 lakhs. But i suggest to get registration in order to avail input tax credit and also credit will be available to purchases from you. Regards Akash Singh