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New Registration - VAT /CST /TIN
What is VAT?
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VAT is a multi-point tax on value addition which is collected at different stages of sale with a provision for set-off for tax paid at the previous stage/tax paid on inputs. This is applicable to intra-state sales.
CST is same as VAT and is applicable for Inter-state sales only.
Who is a dealer?
'Dealer' means any person who carries on business and includes-
• any person who, for the purposes of or in connection with or incidental to or in the course of his business buys,
sells, goods directly or otherwise, whether for cash or for deferred payment or for commission, remuneration or other
• any department of the Central Government or a State Government, a local authority, Panchayat, Municipality, Development Authority, Cantonment Board and each autonomous or statutory body or an industrial, commercial, banking, insurance or trading undertaking whether or not of the Central Government or any of the State Governments or of a local authority, if it buys, sells, supplies or distributes goods, in the course of specified activities which may be prescribed from time to time;
• a factor, commission agent, broker, del credere agent, or any other mercantile agent by whatever name called, who carries on the business of buying, selling , supplying or distributing goods on behalf of any principal, whether disclosed or not;
• an agent of a non-resident (where such non-resident is a dealer under any other sub-clause of this definition);
• a local branch of a firm or company or association of persons, outside The State where such firm, company, association of persons is a dealer under any other sub-clause of this definition;
• a club, association, society, trust, or cooperative society, whether incorporated or unincorporated, which buys goods from or sells goods to its members for price, fee or subscription, whether or not in the course of business;
• an auctioneer, who sells or auctions goods belonging to any principal, whether disclosed or not and whether the offer of the intending purchaser is accepted by him or by the principal or a nominee of the principal;
• a casual trader; or
• any person who, for the purposes of or in connection with or incidental to or in the course of his business disposes of any goods as unclaimed or confiscated, or unserviceable or scrap, surplus, old, obsolete or as discarded material or waste products by way of sale;
VAT in a nutshell
• VAT is a State based tax. If you are dealing in taxable goods within a state, then VAT registration should be obtained.
• Exemption limit for VAT registration vary from state to state and also on the nature of entity and activities. Please refer to state VAT laws for
more details on applicability of VAT on your trade.
• CST is applicable for inter-state trades. If you are dealing in taxable goods across the states then CST is applicable
and should be charged.
• VAT can be set off. This means if you have paid VAT on your purchases the same can be set off against VAT on your
sales and the net amount should be deposited to State Government.
• CST can be set off. This means if you have paid CST on your purchases the same can be set off against CST on your
sales and the net amount should be deposited to Central Government.
• VAT and CST cannot be set off against each other.
• VAT returns are required to be filed every Month or every Quarter depending on your turnover. Please refer to your
State VAT rules for exact slab for monthly returns or quarterly returns. NIL returns are required to be filed in time
if there has not been any business during the period. Late returns are liable for penalty.
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