Dear experts,
I just started a office, buying printed books and other printed stationary materials from printers and selling to corporates, for corporate vendor registration i registered for VAT, got TIN and CST numbers, surely my annual turnover is below 5 lakhs, is it essential to collect VAT from my clients?
i dont have proper purchase bills, is it essential to file every month VAT transactions?
Kindly clarify.
as u r registered delear u need to file the tax return , its not montly its quartely return u need to file return before 21 of jan for the quarter ended 31 dec like that , as u are collecting tax from the buyers for claiming setoff on purchase made u need to keep the purchase bill with the tax paid and all the details in tact , if u dnt you need to pay the complete tax as collected without the setoff for tax which you had paid at the time of purhcases
S.B.G. & CO. CHARTERED ACCOUNTANTS
New Delhi
CA Inter
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Arpan Bohra & Co
Hyderabad
CA Inter
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CCI
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