States code for TIN

Thanks for the post.

TIN i understand but what about Vat Registration Number (VRN) and TOT Registration Number (TRN) mentioned in Punjab VAT Act.

Is VRN and TRN different from TIN?

Can any expert advise on this?

shivani

shivaniadream @ gmail.com

I Dont know about the Punjab VAT but i found something which will i think helpful for you.

Every person who is doing business in Punjab becomes liable for registration under Punjab VAT Act, 2005, If he  -

• purchases taxable goods from outside Punjab for sale or use in manufacturing, or
• receives goods on consignment/branch transfer basis from within or outside the State, or
• deals in purchase/sale of Paddy, wheat, cotton or manufacture of milk products, or
• manufactures  any taxable goods and annual sales are more than Rs 1 lac , or
• is running a hotel/restaurant, with annual sale of  rupees five lac, or
• is running a bakery, with annual sale of rupees ten lac, or
• is doing trading worth more than rupees fifty lac in a year.

In case of a trader making local purchases and sales with annual sale between rupees five lac and fifty lac, option of composition scheme, i.e. TOT registration is available.

I think they are not different from TIN, but they are different kind of Scheme in VAT for different kind of dealer.

Thanks

Deepak

Deepak_8583 @ yahoo.com

3.         Whether it is compulsory for every person to get registered for VAT?

No, there is basic exemption for casual traders and persons dealing in sale of only tax free goods. Also, there is a composition scheme for small traders if they are doing business within the state only and are not registered under the Central Sales Tax Act. They can get registered for TOT (Turnover Tax).

Attached here with Taxpayer Guide for Punjab Dealers