Hi,
We are planning to open up a cafe in Bangalore. Our monthly total turnover would be around 1-2 lakhs.
Is it required for us to register for VAT ?
What should steps should we take in this regard?
Thanks in advance.
Menu
When is vat registration required ?
Replies (1)
Dear Anuraj
There are two options available for Registration
A) Compulsory
B) Voluntary
further registration becomes compulsory when a)TAXABLE ANNUAL TURNOVER exceeds Rs. 10 lakhs
b)dealer is IMPORTER or liable to be registered under CST 1956
Explanation
(White Paper initially allowed limit of 5 lakhs, whereas states allowed this limit to 10 lakhs provided the state will bear revenue loss above 5 lakhs)
Dealer can also get itself registered voluntarily even if turnover doesn't exceed 10 lakhs.
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