Services We Offer
MS Legal Associates:
Being a recent legislation, handling of issues related to Value Added Tax requires professional help. With more complexity being injected into the service tax area, thanks to the continuous inclusion of new services and the very large number of heads of services which are covered by the tax net, handling of Service Tax issues also require top class professional help. The differentiating line is rather thin between VAT and Service Tax, for some industries. We are a well-known VAT consultant in India. Please do get in touch with us, for your requirements related to VAT services, VAT refunds, etc.
Value-added Tax (VAT) Registration, also erroneously known as TIN and CST Registration, is mandatory for any business entity engaged in the sale of goods in India and a turnover of over Rs. 5 lakh (although it may be higher in some states). It is a multi-stage state tax that accumulates at various stages of production and supply. At every stage, the purchaser pays the tax and is allowed to offset the same on subsequent sale.
What is the procedure of VAT registration?
i. Submit an application for VAT in Form 1 along with the following documents to the local VAT office:
a) Central Sales Tax registration certificate(Form A)
b) Professional tax registration certificate(Form 2)
c) Copy of important documents such as the address proof, ID proof of the Proprietor/Partner/Director
d) Four PP size photographs of the Proprietor/Partner/Director
e) PAN No. & Bank Account No of the Proprietor/Partner/Director
f) Copy of the rental agreement of the business place
g) Details of business activities
h) Partnership deed (in case of a partnership firm)
i) Memorandum of Association and Articles of Association (in case of a Private Limited company)
ii. The authorities from the local VAT office will inspect the premises of where you conduct business within a prescribed time
iii. Once the inspection is over, you will have to pay a specified fee to the local office for your VAT registration
iv. On payment of the fee, a TIN number will be allotted to you for your business and you will also be given the VAT registration Certificate.
We offer solutions in the following areas:
a) Handling of all issues related to VAT returns, revised returns, refunds, etc.
b) Handling of all issues related to VAT complications, eg. interpretation, etc.
c) Ensuring that all input VAT credit is availed of.
d) Implementation of systems to ensure that accounting records and VAT records complement each other.
e) Handling of issues related to investigations, audits, SMR procedures, etc.
f) Handling of refunds, returns and assessments under KVAT Act.
g) Handling of VAT assessments and VAT refunds