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%.