• When is TIN and VAT # needed

Sirs 
Can you please advice when a TIN and VAT # is needed for a Pvt Trading company which has been Incorporated around 2 months ago
Asked 2 years ago in VAT from Bengaluru, Karnataka
Dear Sir,

TIN & VAT is required for any transaction involving purchase or sales locally where total amount of transaction during the year crosses Rs. 5 Lacs. Also it is mandatory form first transaction if you want to enter into any transaction involving interstate purchase, interstate sales, Import purchase or export sales. 
Vishrut Rajesh Shah
CA, Ahmedabad
605 Answers
10 Consultations

5.0 on 5.0

TIN and VAt is needed when the company starts trading operation i.e. when it starts selling or purchases.
Shyam Sunder Modani
CA, Hyderabad
1408 Answers
95 Consultations

5.0 on 5.0

If the turnover is likely to be more than the threshold limit of Rs 5 Lakhs, you need to get registered for VAT and obtain TIN. If the turnover is between Rs. 2 Laksh to Rs. 15 Lakhs, you can opt for composition scheme. Otherwise, get your company registered asap. 
B Vijaya Kumar
CA, Hyderabad
845 Answers
48 Consultations

5.0 on 5.0

VAT TIN number is mandatory only when you cross the minimum limit chargeable to Tax under that state. 
Rohit R Sharma
CA, Mumbai
2104 Answers
91 Consultations

5.0 on 5.0

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