About Vat Registration

VAT Registration is required for trading or e-retailing or offline retailing or manufacturing goods in India. VAT registration is now mandatory in the most of the states. VAT Registration replaced Sales Tax in India. VAT is applicable at all stages of Sales & Purchase within a state from manufacturing to retail with the provision to allow Input tax credit for tax paid at an earlier stage within the state; No Input tax credit is allowed for payment of tax outside the state. VAT paid within a state can be adjusted to the VAT liability on later stage sale. VAT is an indirect tax, consumers, therefore ultimately bear this tax

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FAQ's on Vat Registration

1. What is VAT?

Value Added Tax (VAT) is a tax levied on the sales of goods and services in state. Manufactures, Retails, Online sellers, whole sellers and traders should obtain VAT Registration.

2. Who bears VAT?

All sellers of goods and services in India must pay VAT to the respective state government. VAT Act allows take avail input credit on goods purchase with the same state. Since VAT is an indirect tax, so end consumer has to bear this.

3. Is VAT a state law?

VAT is state law and hence the State government is empowered to fix a VAT Rate on Sales of goods and services within the state. VAT collected by the State Governments. Therefore, each State has a different VAT Regulation based on the type of goods sold. The entrepreneur should aware about the VAT Laws and applicable rate on sale or purchase of goods.

4. What Is TIN No / VAT No.

TIN /VAT/CST utilizes the same unique 11-digit number. TIN issued by respective revenue authority of a state.

5. What is due date for payment of VAT?

VAT Payments can be made online from any banks quarterly/Monthly basis. There are certain flexibility for small business like Proprietary Firms, LLPs or Partnership. VAT is required to deposit in the respective state government Account by 20th of following month.

6. NO VAT on Exports?

Vat is not Applicable on purchase made for Export of goods outside India and however, Exporters are required to submit a declaration while purchasing goods for export purpose. Exports are required to obtain VAT registration.

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