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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. Sales Tax registration, VAT & CST registration are synonymous with TIN Registration. 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. VAT Registration is mandatory in most states for traders or manufacturers having a turnover of more than Rs.10 lakhs per year (Rs.5 lakhs in some states).
Those entities having VAT or TIN Registration must file VAT returns on time to avoid penalty. VAT is implemented by the State Governments. Hence, the VAT return due date and VAT payment due date differ from state to state. VAT returns are mostly due monthly, quarterly or annually.
Time Line: 5 ‐ 7 working days
Location: Mumbai, Navi Mumbai and Thane