Taxes on Precast Concrete product
I run this business of making Glassfiber Concrete products in New Delhi. We manufacture and sell architectural products to builders, architects and individuals.
What are the taxes I'm supposed to pay while selling inside New Delhi ?
PS: Keep in mind that one part of business is manufacturing and another part in erection/installation at site, which is a service that we are providing.
Keeping in mind that your business involves manufacturing and Services both. Here are the taxes that are applicable to your business.
Central Excise Tax: Central Excise tax is applicable to those who manufacture. You have to inform the excise department once amount of manufacturing cross 90 Lakhs. You need to register under excise once your amount of manufacturing cross 1.5 crore. For further details on excise registration please read the post Basics of Excise Duty
Service Tax: Service tax is applicable to those who provide services. You need to apply for service tax registration once your gross receipts cross 9 lakhs. When why and how to get Service Tax Registration?
VAT: You need to register under VAT. VAT is charged on anything sold. Since your business involves works contract, where you also sell your products along with installation, you need to register under VAT.
There may be other registrations such as Shops and Establishment, trade license or enviroment license depending on your local laws.
Can I hire you for an indepth analysis on Taxation and other laws related to my business ?
Sure why not. Please drop a mail with details at pulkit(@)psca.co.in