Value Added Tax (VAT) Registration or TIN Registration is a tax registration required for businesses trading or manufacturing goods in India. VAT Registration replaced Sales Tax in India and is synonymous with CST Registration and TIN Registration. VAT is a multi-stage tax with the provision to allow ‘Input tax credit (ITC)’ on tax at an earlier stage, which can be appropriated against the VAT liability on subsequent sale. Therefore, VAT is ultimately borne by the consumer. VAT is collected and governed by the State Government, so each State Government in India has distinct rules applicable for their State based on the type of good manufactured or sold. VAT Registration is mandatory in most states for traders or manufacturers having a turnover of more than Rs.5 lakhs per year (Rs.10 lakhs in some states). IndiaFilings can help you obtain VAT or TIN Registration.
Those entities have VAT or TIN Registration must then file VAT returns on time to avoid penalty. VAT is implemented by the State Governments. Hence, the VAT return due date and VAT payment due date differs from state to state. VAT returns are mostly due monthly, quarterly or annually. IndiaFilings can help you file e file your VAT return online. Our VAT experts can help you compute your VAT payments and e file the VAT return and keep you in compliance with VAT regulations.
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