How We Work
Consult Our Experts
Once you fill in the above details, our expert will call you to understand your requirements in a better way and to brief you about the entire process and suggest you the course of action. Upon confirmation of our engagement by you, we will dedicate you a relationship manager who will take care of all your needs.
Send Documents Via Email
We at The Online Consultants, work towards minimizing the hassles of the client, keeping this moto in mind our executives will give you a single check list of documents needed so that we don’t bother you time and again for documents. In case you are short of a few documents, our consultants help you to provide us the maximum possible alternative documents.
Payments & Filings
The Online Consultants facilitate payments through secure online payment gateway. After successfully providing the set of documents, our experts will prepare the application. Once your application is prepared, you would be asked to make payment for processing the application.
Value Added Tax-Basics
VAT, being local sales tax is charged by states and thus, rates vary from state to state and product to product. However, Central sales Tax i.e tax on interstate sale is uniform. VAT is charged at different rates i.e 1%, 5%, 12.5% and 20% on selling price.
Returns are to be filed for each quarter, on the 25th next month of the quarter. These returns are filed online. No DSC is required in this regard. The returns are filed through your portal on the department’s website. The Tax is deposited monthly
In some cases, a business entity is required to obtain VAT Registration irrespective of the fact that its turnover exceeds the threshold limit. If you are selling goods outside your state, you compulsorily require registration. This is why online marketplaces require VAT registration.
If there is no sale of goods during a period, you will still be required to file returns. Once you obtain Sales Tax registration, you are required to file timely returns irrespective of the fact that you are doing sum business or no business. Irregularity in return filings will attract penalties. Your registration can also be cancelled.
The mandate is that once you exceed a turnover of Rs. 10 lakhs (5 Lakhs in some states) in a financial year then you must obtain Sales Tax Registration. However, if you want to obtain registration earlier you can do so without compulsion of collecting tax, till your turnover exceeds Rs. 10 lakhs.
The terms VAT registration is synonyms to TIN Registration, and your TIN is your CST number. Different people call it different way. Keeping it simple, all it means is obtaining a registration with your state’s department of trade and taxes so that you can collect sale tax and deposit with the exchequer/Government