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
5.0 on 5.0
  Talk to Vishrut Rajesh Shah
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
5.0 on 5.0
  Talk to Shyam Sunder Modani
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
833 Answers
5.0 on 5.0
  Talk to B Vijaya Kumar
VAT TIN number is mandatory only when you cross the minimum limit chargeable to Tax under that state. 
Rohit R Sharma
CA, Mumbai
2055 Answers
5.0 on 5.0
  Talk to Rohit R Sharma

Ask a Question

Get tax advice from top-rated chartered accountants. It's quick, easy, and anonymous!
Ask a question

Other Questions

Chartered Accountants

Lakshita Bhandari
CA, Mumbai
1246 Answers
5.0 on 5.0
Rohit R Sharma
CA, Mumbai
2055 Answers
5.0 on 5.0
Brijendra Tripathi
CA, Gurgaon
83 Answers
5.0 on 5.0
Keerthiga Padmanabhan
CA, Greater Mumbai
784 Answers
5.0 on 5.0
Lalit Bansal
CA, Delhi
487 Answers
5.0 on 5.0
CA Sourabh Pahuja
CA, Delhi
45 Answers
5.0 on 5.0
Pradeep Bhat
CA, Bengaluru
416 Answers
5.0 on 5.0
Priyank Kumar
CA, Agra
34 Answers
5.0 on 5.0
Harsh Kumar Garg
CA, Panipat
26 Answers
5.0 on 5.0
Vishakha Agarwal
CA, Bangalore
429 Answers
5.0 on 5.0