I AM GETTING INTO THE NEW BUSINESS IN THIS I WOULD HAVE TO PURCHASE ONE MACHINE FROM THE DEALER AND THAT MACHINE WILL DO MY WORK. I WILL GET THE CUSTOMERS AFTERWARDS NOT RIGHT NOW. SHOULD I HAVE TO TIN NO. CUMPULSORY.
PLEASE GUIDE ME.
In karnataka you should take TIN If your Turnover crosses Rs.10 Lakhs. However in case you want to do inter state purchase then TIN No is compulsory (There is no turnover limit).
If the above limits are satisfied then you can take TIN No immediately.
If we consider section 13 of Karnataka VAT, input is provided for purchases made before 3 months of registration.
You should take registration so that you can avail input on Machine purchased once you start producing goods.