New VAT Registration - Business & Economy - Entrepreneurship - TIK Share

New VAT Registration


Vivek Agarwal

2015-09-21

Hi,

I am running a website, where I am selling Readymade garments. I am registered under Karnatak VAT using my PAN number.

Now, I want to start a NEW website selling books(VAT exempted).

- Do I need to apply for a new VAT/TIN number?If yes, Can I apply to multiple TIN/VAT number using the same PAN number?

- or, should I get a catagory addded to my existing VAT number?

 

Thanks in Advance.

 

CA Pulkit Sharma

2015-09-22

In individual capacity you can have only a Single TIN/VAT registration. You can add the additional commodities in your existing registration itself.

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Vivek Agarwal

2015-09-22

Thank you sir. Books are exempted from VAT. So still I need to get the current VAT/TIN amended?

How to add the additional commodity to the existing registration.

 

Reply

CA Bhanu Prakash

2015-09-25

Dear Mr. Vivek,

 

You are free to add goods which you are intended to trade in irrespective of its taxability. you can add all those goods by amending registration through online log into your VAT account.

 

Regards

CA Bhanu Prakash

bhanu.prakash.m@icai.org

Reply

Vedanta Deshika

2015-09-27

Vivek Agarwal,

Not all books (Printed materials) are exempt from VAT. Exemption form VAT Payment is a different issue altogether. As dealer, if you cross the threshold limit of turnover, you would become liable for VAT Registration irrespective whether the turnover is taxable or exempt. 

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