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What is VAT Returns Filing?

All business firms that are engaged in sales of goods and services; as soon as their annual turnover crosses 5 lacs (varies to 10 lacs from state to state) they should have a VAT registration; is often called as TIN registration.

VAT returns filing is mandatory for every business that has Tin or VAT registration. As VAT Returns filing is a state level tax, hence the terms and conditions vary from state to state basis in the norms of that particular state, so is the due date of filing VAT returns. Moreover, VAT returns are filed monthly, quarterly or on annual basis.

In the case of proprietary firms, VAT should be deposited quarterly and in the case of LLPs and partnerships firms, it should be filed monthly. Again, it varies from state to state.

VAT Returns Filing Process:

Returns Preparation:

For preparing your returns we will collect all the necessary documents and information for preparing your returns. Once the filing is done successfully, our affiliates will take care of your reminder of the filing so that you don't end up paying penalties.

Returns Filing:

We will give you the opportunity to review the filing. As soon as you approve it, we will further file the returns with the state government. Based on the successful completion of the process, we will mail the acknowledgment at your registered email address.

What You Need To Know

In Every State

The default option for start-ups and growing businesses as only private limited companies can raise venture capital.

Filing Returns

The default option for start-ups and growing businesses as only private limited companies can raise venture capital.

Penalties Apply

The default option for start-ups and growing businesses as only private limited companies can raise venture capital.

FAQs on VAT Returns Filing?

When do I need a VAT Returns Filing?

If or not you need a VAT Registration totally depends on the state in which you have your business established. VAT registration is not at all required until you have crossed a threshold of 5 lacs annually. It also depends on what all things are you selling, for example; Salt, is exempt from VAT.

Will a residential office work?

If you have a commercial space attached to your house and with separate entrance then only it can be considered as a commercial establishment.

What are the requirements of VAT filing?

If you are planning to fill returns by yourself then you must have the login details which would have been provided to you during the registration and of course you should also know your TIN number.

Do I need to be at the office during the inspection?

Yes, it is better to stay at the office during the inspection. We always try to inform you about the visit, however, surprise visits are often conducted.