VALUE ADDED TAX REGISTRATION

1. What is VAT?

Value Added Tax (VAT) Registration is a tax registration required for businesses trading or manufacturing goods in India. VAT Registration replaced Sales Tax in India and is synonymous with CST Registration and TIN Registration if the turnover of your business is more than 5 Lac in a year (10 Lac in some states), then you need to have a VAT Registration.

Also if your business is involved in purchasing goods that have been levied with VAT, then it is advisable that you go for registration of VAT.

Benefits of VAT Registration-

You are a recognized company– There will be a certain authenticity associated to your company and other entrepreneurs will be more comforted in doing business with you. This is a surety on your part that yes legally you are a sorted company.

You get to use Set off– Set – off is the difference of the VAT you give to your supplier and the VAT you receive from your customer. So in simpler words VAT for a particular product has to reach the Government only once. So if you paid some VAT you can deduct it from what your customer gave you.

A VAT registration implies that your business turnover is more than 5 lac INR. So it makes your company appear established and larger. That will further appeal to more entrepreneurs and help you expand.

You become eligible for VAT refunds- This means that you can claim the taxes you have paid in an European country while you buy any goods there.

2. Requirements for Getting VAT Registration?

  1. Submission of Application- An application is submitted to Income Tax Department for VAT Registration.
  2. Submitting Documents- Requisite Documents are submitted to IT Department.

3. Documents Required?

For Company

  1. MoA, AoA  & Incorporation Certificate  of Company
  2. Company PAN Card
  3. Address Proof of Directors
  4. ID Proof of Director – Pan Card / Election Card/ Passport/ Driving License
  5. Rental Agreement/ Lease Agreement of Company
  6. Passport size Photograph of Directors of the firm.
  7. Ph.No, eMail ID of Directors
  8. Bank Account details of Company

For Propreitor

  1. PAN card of Proprietor.
  2. Rental Agreement/ Lease Agreement of Proprietorship
  3. Address Proof of Proprietor.
  4. Passport size Photograph of Proprietor.
  5. Ph.No, eMail ID of Proprietor.

Partnership firm

  1. Partnership Deed
  2. PAN Card of Partnership firm
  3. PAN Card of Partners
  4. Address Proof of Partners- Election Card/ Passport/ Driving License
  5. Rental Agreement/ Lease Agreement of Company / Proprietorship
  6. Passport size Photograph of Partners.
  7. Ph.No, eMail ID of Partners.
  8. Bank Account details of firm.

4. Time Required for Obtaining VAT Registration?

Baxicorporate will get the VAT Registration within 14 working days subject to processing time taken by IT Department.

5. Pricing ?

For Pricing and other details Click  

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