What is COT and VAT
We have obtained one Tin No (Karnataka) in the year 2008 under COT and filing the return regularly every quarter. Since there is no business in the particular industry we are filing NIL returns.
Now we wanted to do the transactions in the same Tin No and, how to file the return?
Mostly the purchases will be from Interstate. Under COT Cst purchases are allowed are not and if we bill for our sales how much we have to charge as a tax.
If the Turnover crosses 25 Lakhs, whether we have to Apply for VAT Regular registration?
Somebody told me we can not take input and we have pay some percentage on our sale.
I am tottaly confused. Kindly help me how to go about it.
Thanks in Advance
In this Regards Other Details also required.
Hence better to get in Touch With Professional. I advice you to contact Pulkith