Suppose a small dealer started his business on 1st april and is not registered under Vat act. And on 25th Dec. his gross annual turnover exceeded Rs. 5,00,000. Now he is required to get registered within 30 days from 25th Dec.
After registration does he have to pay Vat on sales made before 25th Dec?
Thanx for that rply shashin. Now suppose he registered under Vat and his turnover during the year exceeded Rs. 50,00,000. But next year he knows by some reason that his turnover will not exceed Rs. 50,00,000. Can he opt for composition scheme next year?
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