I newly started selling web hosting services, now in my business model i purchase hardware on rent from large companies with purchase cost and by adding margin for service to which i have to provide it to my customers.
now, from where i purchase these services or hardware they produce VAT bills to me.
As recently started my business, i dont have turn over 5 lakhs as per VAT rules, am i eligible for VAT?
do i have to mention on my bills that VAT is already paid or what need to be done if i'm selling those services to end customers? what will be my liability & eligibility towards VAT?
I'm very confuse, Please guid me.
Genuine Thanks..
CAclubindia
