tax consultants in kochi kerala

Tax Services

VAT Registration

 

Value-added Tax (VAT) Registration, is also  known as TIN and CST Registration. It is a mandatory  tax registration  for all business entities engaged in the sale of goods in India. It is required for a business entity of a turnover of above Rs. 5 lakh and it may be higher in some states  as per state government regulations. State government collect VAT and it is important to know what is  the VAT rate for the goods and services you give it in each state. Please note  consumers or the end customer finally has to pay tax.

Returns should be filed on or before 20 th of each month for Private Limited entity. Limited Liability Partnership (LLP), Partnership firms and sole proprietorships can do it quarterly

Service Tax Registration

 

Service Tax registration is tax registration which is mandatory for all service providers once they exceeds total turnover of Rs 10 lakh . Service tax is an indirect tax which is levied on a wide range of services mentioned by the  central government under section 77 of  the Finance Act, 1994. Service Tax is collected from the customer for the particular service provided by service provider. For this purpose ,service provider should take the service tax registration and tax collected from the customer should be paid back to the central government on monthly and quarterly basis as per the type of registered entity.  At present Service tax rate in India is  15%.

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