VAT is applicable on Sale of Goods.
It is mandatory to register with VAT authorities and obtain a valid VAT number.
Depending upon the nature of activity and its geography, the company may require two registrations, State level and Central level.
The rate of VAT is different for different products and hence it is critical that registration is obtained under appropriate classification and expert advice is obtained.
The company is required to collect the VAT and pay the same to Government as per the provisions of The VAT Act. The Act prescribes time limits for VAT payments and return filings.
Our compliance team is experienced in advising company on applicable rates and classification under the Act and would assist the company with obtaining necessary registrations, tax payments and filings.
For more details of the documents required and any related advisory, feel free to connect with our team on vat@kdpaccountants.com
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