As in most of the countries worldwide, the VAT is a dominant and influential form of taxation to businesses in all economic sectors in India. This Value Added Tax (vat) was introduced to avert the cascade effect of multiple sales taxes, and tax evasions, and is extremely successful in achieving these objectives. Ours this prolific article deals with what is vat registration or what is vat registration number, and ours perfect and swift services for vat registration in India. VAT is the amount of tax which is responsibly collected from the buyer at every stage of transaction of the concerned good or product, in all along the entire supply chain of the same. Making proper registration for collecting and remitting vat as per the governmental rules and regulations by business entities, is called the vat registration. VAT is collected from the buyers and remitted to the government, for lawful and recognized conduction of business in any field. The VAT is essentially related with the State Governments, and the Central Government makes provisions and policies for perfect and smooth collection of vat at state and central levels nationwide. At present, the commonly applied rates of vat for most of the products and goods are 4% and 12.5%, in most of the States of India.
VAT Registration Services India
Prompt vat registration online is performed by us on behalf of people and entities doing business in any location within the country. After vat registration given is a Tax Payer's Identification Number (TIN) to the applicants for their identification. This vat registration number is now mandatory for lawfully proper business governance and conduction, anywhere in India. People and entities involved at any stage of manufacturing, processing, distribution, or selling of goods and products in any economic field, are required to obtain vat registration, well before the conduction of their commercial activities. For vat number registration the requisite documents differ for different types of business entities in diverse economic sectors. However, the most common documents necessary are - CST registration certificate, commercial or professional tax registration certificate, details regarding business activities, PAN and Bank Account Number of the business owner, personal ID proof and proof for business location, rental agreement if applicable, four PP size photographs, and MOA and AOA concerned with the company, partnership deed in case of a partnership firm.