Anurag 04 August 2015
I have Quiries Regarding my Business is as follows:-
Suppose i am Businessman and my nature of Business is to run a genral store (i.e. Kirana Store) and my Turnover is Rs. 15,00,000/-. what types of Taxes & Law are Applicable on my Business.
Am I liable to ragistered under sales tax ragistration number ?
Please tell me What types of Laws Are Applicable on my Business?
Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 ) 04 August 2015
Service Tax registration is a function of gross turnover. Once the turnover of the assessee crosses a threshold limit of Rs 9 lacs, the service provider is required to get itself registered under the law, and compulsorily required to charge service tax on services provided once the turnover crosses Rs 10 lacs.
VAT (Value Added Tax) registration is compulsory for dealers having turnover exceeding Rs 5 lacs (or increased limit of Rs 10 lacs in some states).On registration, such dealer is allotted a unique 11 digit TIN (Taxpayer’s Identification Number).
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