Company registration-VAT-Service tax
Hi i want to open a company where we supply films that can be applied on glass and walls and also give design services. The max billing for complet year would be not more that 1.5 to 2 lakh.
1. Is properitorship registration is good for it or any other registartion
2. Is it necessary to do VAT and service tax registration for it.
3. Can I register it at the rented residence address itself.
4. Any other important info which i have missed
And fees for it.
With such less turnover you mentioned, you need no registration. Just concentrate on your business. Think of registrations if:
- Sales cross 10 lakhs,
- Service income cross 9 lakhs or
- You are selling goods out of Karnataka State.
Rightly said by Rahul no need of any registration presently.
But if you are thinking expanding your business through online portal or in any other way.
you need to take VAT Registration.
I suggest atleast you take shop establishment Act registration if, 1) business is in Karnataka
and you got the office space or Shop.
Otherwise only file your IT return regularly declaring your correct income.