VAT Returns Filing is done once a month or once every four months. The rates are subject to the state the business is located in and the product dealt in, as different states pose different VAT on the selling of goods. VAT Registration is mandatory for businesses selling products and has an annual turnover of over five lakhs or ten lakhs in some states. Additionally, if a business operates at different locations, then the VAT Returns may be required to be filed at separate times.
Yes. We will keep you updated with the date, the inspection is meant to take place. However, sometimes, there can be surprise visits.
Yes. However, if you choose to set up a business in your residence; it should have a separate entrance as that of your home.
No. the date of filing of returns differs from state to state and depends on turnover of the previous years; based on which it can be monthly, quarterly, six-monthly or annually.
The rate of VAT depends on the state the goods are sold. Additionally, it differs from state to state and product to product.