VAT AND CST RETURNS FILING

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Value Added Tax (VAT) Registration or TIN Registration is a tax registration required for businesses trading or manufacturing goods in India. All business entities engaged in the sale of goods (traders and manufacturers) need to have a Value Added Tax (VAT) Registration, often called TIN Registration, once their annual turnover crosses Rs. 5 lakh (Rs. 10 lakh in some states). 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. AuditNeeds can help you obtain VAT or TIN Registration. After Registration of VAT, the producer or dealer is allotted a unique 11 digit number which will serve as the TIN Number for the business.

Those entities having VAT or TIN Registration must then file VAT returns on time to avoid penalty. The VAT return due date and VAT payment due date differs from state to state. VAT returns are mostly due monthly. AuditNeeds 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.