About Me

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Mumbai, India
I run an IT Security consulting firm based out of India. We started off from scratch in 2001 when I was 21, and have offices in Mumbai, Bahrain, and UAE. The idea behind the blog is to share the stories of how we run the business, the deals we make, the deals that break, the heartburn, and the sheer joy.

The Ultimate Startup Guide

The Ultimate Startup Guide is an e-book that provides answers to all your questions related to starting and growing a business in India. Everything you wanted to know about entrepreneurship in India from ideation to registration to marketing to hiring. The book contains a large number of practical examples, anecdotes, interviews, and motivational material to help you get started, and to grow rapidly in a booming Indian economy. If you've got the idea, this book will help you through with the execution and realize your dreams. Here are some of the key questions you will find answered in this book:
  • When starting a business, what are the legal issues involved?
  • What form of incorporation is better suited to which type of business?
  • What tax issues are involved?
  • How do I start a business and what are the pitfalls?
  • How do I market my business in the absence of significant funding?
  • How do I get funded?
  • What are the basic accounting concepts I should be aware of?
  • What is a business plan and how should I build one?
The brief table of contents of the book is as follows:
  1. Getting started
  2. Ideation
  3. Forms of Enterprises
  4. Funding
  5. Basic Accounting and Taxation
  6. Import and Export Licensing
  7. Trademark and Patenting
  8. Rules for NRIs and Foreigners
  9. Building a Business Plan
  10. Marketing on a Shoestring
  11. Website and Branding
  12. Women Entrepreneurs
  13. Templates
To order the Ultimate Startup Guide - email me at kkmookhey@gmail.com.

Details of the book are:
Title: The Ultimate Startup Guide
Author: Kanwal Mookhey
Pages: 150
Additional: Companion CD contains numerous templates for building your business plan, calculating cashflow, preparing profit and loss, and balance sheets, preparing invoices, your resume and profile, marketing material, websites, contracts, and many other useful and motivational material.

Thursday, August 02, 2007

How to register for Sales Tax / VAT in India

Recently, we got into reselling products in line with our consulting work, and also developed a couple of new products. But in order to sell products within India, we need to register for a Sales Tax or VAT (Value-Added Tax) number. This process is pretty straightforward:

  1. Locate the office of the Central Sales Tax Office in your city. Being in Mumbai, a simple Google search turned up the location of the office at Mazgaon - http://salestax.maharashtra.gov.in/communicationcenter/contactusShow.php
  2. Approach either the Public Relations Officer's desk there, or go directly to the Registration Department and collect the forms.
  3. We needed the following supporting documentation along with the form:
    • Company's PAN Card
    • Director's PAN Card copy
    • Two proofs of Director's residence - I used my passport and a phone bill
    • Two proofs of place of business - we used our Leave & License agreement, and the electricity bill
  4. The form is pretty straightforward to fill, and you need to ask for the one related to Voluntary Registration (VRS). You will need a Sales Tax Professional to sign on the form, and the Mazgaon building also houses the central office of the Association of Sales Tax Professionals, so finding one shouldn't be all that difficult.
  5. It cost us Rs. 5000 as fees for VRS, and nothing under-the-table
  6. The Sales Tax or VAT number is sent across by post in about a week's time
The main thing to keep in mind is that VAT returns need to be filed every quarter, and you will need to get a qualified CA who is capable of auditing and signing-off on VAT returns. My current CA has expressed his reluctance to process our VAT returns, so we are on the lookout now for someone who can do this.

40 comments:

apu said...

you're back after ages! i hope you're going to be around more frequently....

Intrepid said...

Hey Apu, good to hear from you! :) Yes, I know how infrequently I have been blogging. The idea tap just ran completely dry. Plus workload was a lot as well...I hope I am going to be around more frequently as well...:)

mb said...

As usual, fantastic choice of topic!
Just what I was looking for.
Im based in Delhi, can you please guide me how to procure a Company PAN Number?
I am the propreitor of my firm and running a fresh business only using my own PAN number. Also, is it necassary?

Thanks, in advance!

Intrepid said...

mb: If you are running it as a proprietorship, you don't need a separate PAN number, continue using your personal PAN number. If you are registering it as a Pvt. Ltd. then you will need a PAN number, and also other formalities. Check with a good CA in your area, or a CA that someone can recommend to you, and he will help you out with the formalities. Or visit the Income Tax office close to your area, and speak with the PRO (Public Relations Officer).

Dr. Aman Singh said...

Thanks a tonne fo your HELP :-)
Dr. Aman Singh, Chandigarh

sakshi said...

what are the requirements for registration for vat in case of proprietor

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navaneedh said...

Great thoughts you got there, believe I may possibly try just some of it throughout my daily life.





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Registration of VAT in India

What is VAT registration ?

If one is trading in goods and his turnover exceeds prescribed threshold limit. One is required to get registered under VAT authority. Our specialized team make sure that all the compliances are being fulfilled in successful VAT registration.
What documents are required for VAT registration ?

How much time is required for VAT registration?

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SHELF COMPANY IN INDIA said...

Registration of VAT in India
What is VAT registration ?
If one is trading in goods and his turnover exceeds prescribed threshold limit. One is required to get registered under VAT authority. Our specialized team make sure that all the compliances are being fulfilled in successful VAT registration.
What documents are required for VAT registration ?

How much time is required for VAT registration?

Normal time to Register VAT in India is 7 working days time.

Need Help?
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Registration of VAT in India
What is VAT registration ?
If one is trading in goods and his turnover exceeds prescribed threshold limit. One is required to get registered under VAT authority. Our specialized team make sure that all the compliances are being fulfilled in successful VAT registration.
What documents are required for VAT registration ?
How much time is required for VAT registration?
Normal time to Register VAT in India is 7 working days time.
Need Help?
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Call : 9810139673, 8287022022
Yahoo : vkare3
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eaga said...

Good post. @ kanwal .I want to add more info.

Value-added Tax (VAT) Registration, also erroneously known as TIN and CST Registration, is mandatory for any business entity engaged in the sale of goods in India and a turnover of over Rs. 5 lakh (although it may be higher in some states). It is a multi-stage state tax that accumulates at various stages of production and supply. At every stage, the purchaser pays the tax and is allowed to offset the same on subsequent sale. Consumers, therefore, ultimately bear this tax. VAT is collected by the state government and it is essential to know what the VAT rate is for the type of good or service you provide in each state you provide it in. Returns need to be filed on the 20th of each month (partnerships, LLPs and proprietorships can do so quarterly).

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VAT/ Sales Tax registration is required for any business that is into sales either by way of trading, manufacturing, whether individuals, partnerships, Companies, or other forms of businesses.

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