Value Added Taxation is applicable when any person performs any trading activity of any commodity or performs job work on behalf of any manufacturer or contractor. The Monthly or Quarterly VAT returns are prepared in a specified format, which require the compliance of multiple acts and rules that differ from state to state. In further proceeding of compliance issuance forms are also required as in case of Inter State Sale and collected tax is also paid to concerned government departments in specified Challans up to a pre-fixed date. All the sellers whose turnover exceeds maximum limit have to get themselves registered under Sales Tax. A TIN number is allotted to them for smooth functioning of the business. Seller has to deduct sale tax at the selling price at the prescribed rates that differs from state to state. In case of interstate sale the seller has to get himself registered under CST through C-form, and furnish his details through form-1 along with Form 24 or 26 as the case maybe.
Person has to comply with the Acts in acted by concerned government where the person does his commercial activities. All the state Sales tax departments publish notifications and circulars through office gazette, which are mandate to be followed. This entire recurring process takes an expertise in Sales Tax-VAT, Central State Tax statutes. We provide a team of experienced professionals who have expertise in efficient handling of the Value Added Taxation process.
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