Who is tot dealer

Sadeeq Abdul December 10, PM. Bhanu Pramod December 20, AM. Venkkatesh K December 20, AM. Unknown December 20, PM. Venkkatesh K December 20, PM. Hai sir, This is raja sekhar. To start a business of selling in online platforms, they are asking for vat registration. So if my business doesnt exceed 40 lacs but if now am registering as expected sales crossing the threshold limits, will there be any problem and if after registering if i fail to file returns will there be any penalty as even my business is registered it is not in the threshold limits.

Also plz guide for the documents required for registration and registration charges to be paid. Venkkatesh K December 28, PM. Venkkatesh K December 29, AM. You need to submit the TOT returns quarterly and you have to pay the tax after submitting the returns only. Shreepal Tater January 5, PM. Last month I fill up My vat but I fill up it wrong. I want to fill up amount on sale column but it fill up by mistakenly in purchase column.

Suggest me. Venkkatesh K January 5, PM. Still you can revise your VAT Returns. If any assistance contact at advice accountsguy. Sahil Gupta January 15, AM. I want to be a distribitor of fmcg products, cosmetic products, readymade kurtis etc. I Just will apply for a tin number in few days, but i am not sure how much my turnover will be.

Now if my sales below 12lakhs then shall i have to apply for tot also? Venkkatesh K January 15, AM. If need further assistance contact us to advice accountsguy.

Venkkatesh K January 30, PM. Unknown February 17, PM. Ramanuja Gupta February 17, PM. I want to start d business in tot act.

Pls give me reply. Madhu February 17, PM. I am residing in Bangalore and all my identity and address proofs have Bangalore address. Can I apply for a TOT of license in Visakhapatnam with these proofs of should I produce only Visakhapatnam address and identity proofs?

Unknown March 2, AM. Venkkatesh K March 2, AM. Venkatesh Ayisetty March 6, AM. SIR iam doing a business with less than 5 lakhs turnover,but i have registered with TOT in the month of may n i have paid through internet banking without filling ereturns in the month of july,afterthat i haven't paid the money.

Venkkatesh K March 6, AM. You have submit quarter returns and have to pay the tax if tax payable. Otherwise, your license shall be canceled. First submit the pending returns and make the payment of the tax if due. Venkatesh Ayisetty March 6, PM. Venkkatesh K March 6, PM. Venkatesh Ayisetty March 8, AM.

Venkkatesh K March 8, AM. Ranjeet Kumar March 11, AM. I got the medical licence 15months ago, but I have not taken the TOT as yet. What will be the fees, late fees, fines, etc? In my case, say we have a profit of 8,00, and my share is 4,80, Then my IT will be 11, Kindly reply in as much detail as possible. Turnover Tax TOT is payable by resident persons whose gross turnover from business is more than Kshs. Eligible taxpayers are advised to log onto iTax, add the TOT obligation, file the monthly returns and make payment.

A taxpayer whose turnover is within the above threshold, but chooses not to be taxable under TOT, shall be deemed to have informed the Commissioner of this choice by not registering for TOT. TOT will be filed and paid on a monthly basis. The due date is on or before 20th of the following month.

This is the date from which you are liable to charge and pay VAT. For the earlier period i. If your taxable turnover exceeds Rs. You must fulfill the following obligations: a You must file a quarterly return and pay the tax due for each quarter ending June, September, December and March by the end of the following month.

Is there a checklist of the Supporting Documents that I need to submit along with my application? Who is the registering authority to issue a VAT registration?

Will I be given a Unique number on approval of my registration? The Registration Certificate should be issued within 1 working day from the date of receipt of the application together with all supporting documents. The dealer can initiate all his business activities on receipt of the scanned certificate.

What happens if my Registration Application is found to be incomplete? In case of any gap found in the registration application, the Registering authority may return the application to the dealer by recording the reasons in writing and provide the dealer 7 days of time to respond to the query.