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What are the business does not need tin registration?

504 views 1 replies

Dharanikumar

MBA

38 Points Joined December 2013

DEAR EXPERTS

AM A YOUNG GRADUATE WORKING IN A PVT COMPANY I WOULD LIKE TO DO SOME SMALL BUSINESS IN MY PART TIME AS MY FAMILY EXPENSES MORE THAN MY SALARY INCOME HENCE I PREFER FOR SOME SMALL BUSINESSES BUT AT THE SAME TIME I WOULD LIKE TO DO IT LEGALLY . LIKE SMALL MICRO FINANACE SERVICES ( LENDING MONEY FOR INTEREST AS PER GOVT NORMS/ MORTAGE SHOPS LIKE LENDING MONEY BASED ON SMALL ITEMS NOT GOLD (VCD PLAYERS , MOBILES ETC) / RUNNING SMALL CHIT FUNDS ETC PL GIVE YOUR IDEAS AS AM UNABLE TO AFFORD FOR VAT / SHOPS PL GIVE IDEAS AWAITING EXPERTS IDEAS

Replies (1)

Basavaraj

Associate

147 Points Joined November 2011

In vat, service tax and central excise there are minimum turnover fixed for to liable to get registered under respective law 1. In case of Karnataka vat if turnover exceeds 500000 p.a or 40000 p.m then liable to get register otherwise not required accordingly tin no not required. 2. In case of service tax 9,00,000 p.during or previous financial year if crossed then liable to get registered. So till cross the such turnover you don't need tin number.