1.Registration ProcessExcise, Service Tax, VAT -By Ch.Kapil

2. Registration Coverage 1. 2.Major Considerations under this Registration are: Type of Registration When to take .? How to Take ..? Accounting and Auditors Role of Registration? 3. Type of Registrations Under VATUnder ExciseUnder Service TaxDealerManufacturerSingleHotelier / Restaurateurs / Caterers / Sweet Meat Stall l/ Ice-cream Parlours / BakeriesDealerCentralisedMechanical Crushing UnitNon AssesseeWorks ContractorDeclarantBasing on the type of the Business the client deals with, The selection of type of Registration applies 4. Where do Law specify the Registration as Mandatory..? Chapter III of Karnataka VAT act,2003 declares thedetails of registration for VAT Section 6 OF Central Excise Act, 1944 for Excise Section 69 of Chapter V of Finance Act,1994 for service tax 5. When do I need to Register? For vat if the taxable turnover is more than Rs.5,00,000 /-per annum or Rs.40,000/- per month For excise if entity deals in manufacturing or production and trading of goods specified in First and Second schedule of Central Excise Tariff Act,1985 For Service Tax the person liable to pay tax under chapter V of Finance Act,1994 has to get registered 6. In Detail for VAT Registration? Every dealer in dealt in purchase or import of Taxable goods is liable to register under VAT after such purchase and shall intimate the same in monthly return Every Dealer in dealt of sale or of such nature to person outside the state has to register after such first sale A works contractor also need to be registered under vat. 7. How to register under VAT? Apply online by visiting the www.ctax.kar.nic.inand fill in the details in Form 1 Select the LVO code and fill in the details with soft copy of the documents After application is filled the vat commissioner of induce the Vat inspector for Physical verification of business and documents Vat Tin No and Professional Tax Number will be allotted on Receipt of nominal fee of Rs. 3,500/- 8. For Central Excise Login or Logon in www.aces.gov.in under CentralExcise Select the Form applicable i.e. Form A1 or A2 or A3 or Non Assessee available under registration column Major Requirements under this form are: 1. List of Major goods that are traded, manufactured 2. List of Major goods that are Inputs for BusinessOther all data like company details and management details are also important but Goods mentioned in this list plays a major role in our input credit on Inputs and capital goods 9. For Service Tax Login or Logon in www.aces.gov.in under servicetax Column Select the Form ST 1 available under registration column and fill the details as required Major Requirements under this form are: 1. List of Major services that provided 2. List of Major services taken as Input Other all data like company details, Location details management details are also important but services mentioned in this list plays a major role for availing Input Credit 10. Documents required for Registration Common for VAT, Service Tax and Central Excise Incorporation Certificate of Company (in case of Companies) Memorandum of Association & Article of Association (in case of Companies) Rental Agreement/ Lease Agreement of Company / Proprietorship Company PAN Card / Individual PAN card in case of Proprietorship Address Proof of Director Lease / Rental Agreement ID Proof of Director Pan Card / Election Card/ Passport/ Driving License Registration copies with other Departments like. VAT, PT, Labour dept. True copy of Board resolution empowering company representatives as Authorized signatories. Partnership Deed in case of Partnership firm 11. Details Required in Specific for Excise and Service Tax Notification References for List of goods andservices traded Notification References for List of goods and services taken as Input Tariff headings of the goods specified in Customs tariff Act 12. Type of Registration in case of Branches As VAT is state government tax, registration ofbranches to be taken in respective states only In case of service tax, client can apply for centralised registration ( if Books of accounts are maintained at Head office only) In case of Excise, the client can apply for registration of Input Service Distributor useful for passing on the cenvat credit as it is. (If books of accounts are maintained separately) 13. Check for the Applicability? Type of the DealerVATCentral ExciseService TaxIncome Tax (PAN)ManufacturerYesYesYesYesImporterYesYesYesYesFirst Stage DealerYesYesYesYesSecond stage dealerYesYesYesYesJob workerYesNoYesYesWorks contractorYesNoYesYesTaxable service No providerNoYesYesNon taxable ServiceNoYesYesNo 14. Check for the type of Registration ..? Type of BusinessRegistration Required VATExciseService TaxManufacture of GoodsDealerManufacturerTrading of GoodsDealerDealerJob WorkerDealerNAApplicableWorks contractorWorks ContractorNAApplicablePacking of GoodsDealerManufacturerApplicableBankDealerManufacturerApplicableFinancing SocietyNANAApplicable 15. Accounting For Registration Expenses Accounting for Expenses met for establishing anentity like company is accounted as Differed Revenue Expenditure Where in case of Statutory Registration under IDT is not so ? This is basing on the estimate of business turnover after Commencement of Business Fees Met for this registration to be expensed under Rates and Taxes 16. Auditors Role Auditors details are updated in Form 1 of vatRegistration He has to check the registration certificate for clear and correct understanding of the clients Business He has to verify the input credit of the goods which are stated in Form A1 under Excise He has to verify the accounting of Registration, Renewal and amendment of registration expenses with proper supporting 17. Can Contact Me: Mob: 8892879593 Mail me: kapilchidurala93@gmail.co m