VAt registration - Business & Economy - General - TIK Share

VAt registration


Akshay Sivadas

2016-05-03

Hi

I am starting a business of homemade jams and jelly in bangalore where the current turnover is less than 5 lakh , but retail outlets and online shopping sites like amazon need vat if i want to sell with them . how can i go forward with them becuase if i doont get to sell with them then my business will be stagnant and will i get VAt with the current turnover of less than5 lakh.

CA Pulkit Sharma

2016-05-03

You can get VAT registration even if your turnover is nill. To sell on Flipkart, Amazon or other online portal you need to have VAT.

You can get registration with turnover of 5 lakh too.

Wish you luck for you business!!!

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Alka Mehta

2016-06-07

What are the implications of failing to register under VAT Act?

I want to know the penalty imposed on an ice cream factory in Bangalore for the above.

 

Thanking you.

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CA Pulkit Sharma

2016-06-07

Hi Alka,

Incase of not registration, department may on suo moto register the company and collect VAT with interest and penalties.

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