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Turnover for registr ation under upvat

Others 442 views 1 replies

Sachin Kumar

M.Com

53 Points Joined April 2014

Dear All,

I need your help to suggest someone for registration under UPVAT.

A Mobile shop is run by my friend where he sells mobiles and other items. What turnover should be to get registered under UPVAT?? As it is a trade kind of business and i think UPVAT is far different from DVAT in the matter of liability to get registered.

Kindly provide the necessary detail.

Replies (1)

sesha

accounts executive

1101 Points Joined August 2009

Since it is Mobile accessories and mobile spares are taxable at vat 4% under up salestax act 2008 to schedule 2 Part B if the is MRPcost of theone mobile is more than 10000 then u will liable to pay tax @ 4%. Better you can make voluntartily registration.and it should be registered to avoid any future aspects.Commodity code of the Mobile Schedule 2 Part B Commodity code for mobile is 28 and other mobile accessorries(Microphones, multimedia speakers, headphones, earphones and combined microphone / speaker sets and their parts) comes under commodity code no 2 under Upsales tax act 2008 schedule 2 taxable item under rate 4% at list of IT Products and accessories.