I am Sanjay from Bangalore. Actually, my Wife wants to start a Home Based Boutique Saree Business in near future. We are initially investing a small amount (Rs. 75,000.00) to start with.
If everything goes good, we may make profit of about 10 to 15% on 75% of total investment and subsequently we will invest the same in this business.
I have few queries.
1. Is VAT Registration required? Yearly Turnover will not be more than Rs. 5.00 Lacs.
2. Can I run the business from my Residence?
3. What should be the Billing system, if any? Will it be necessary to keep the Purchase Bills?
4. I will be picking up the material from Kolkata. If the Supplier doesnt have VAT, will it create a problem for me?
Thanks and Regards,
Posted 10 months, 4 weeks ago by
If you buy and sell within Karnataka, VAT exemption limit of 10 Lakhs is applicable and you do not require VAT registration.
However since you will be buying porducts from Kolkata, VAT registration along with CST registration is required. You can read VAT registration requirement post on this forum posted for legal aspect.
Posted 10 months, 3 weeks ago by
CA Pulkit Sharma
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