Who is required to get registered as a VAT Dealer under Punjab VAT Act 2005?
Every person, except a casual trader and one dealing exclusively in goods declared tax free, whose gross turnover during the year exceeded the taxable quantum, as provided below, is liable to pay tax under the Punjab VAT Act by way of VAT on the taxableturnover.
| S. No, | Particulars | Taxable Turnover Limit |
| (i) | in relation to any person, who imports taxable goods for sale or use in manufacturing or processing any goods in the State, | Rs. one |
| (ii) | in relation to a person, who receives goods on consignment/branch transfer basis from within or outside the State on which no tax has been paid under this Act, | Rs. one |
| (iii) | in relation to a person, liable to pay purchase tax under section 19, | Rs. one |
| (iv) | in relation to a person, who is a manufacturer, | Rs one lakh |
| (v) | in relation to a person, who is running a hotel/restaurant, | Rs five lakh |
| (vi) | in relation to a person, who is running a bakery | Rs. Ten Lakh |
| (vii) in relation to voluntary registration | Rs five Lakh | |
| (viii) in relation to any other person | Rs. fifty Lakh |
Documents required for VAT Registration under Punjab VAT Act
1. Proof for VAT eligibility – generally a bill for purchase of goods made from Outside the State of Punjab.
2. Proof of identification. (Ration Card, Driving Licence etc.) of prop./Partner/Managing Director.
3. Proof of business premises – if the Business premises is on rent. (Rent paid receipt/Rent Deed) or if the owner has his own business premises then proof of ownership.
4. Incorporation Document of the Taxpayer:-
- If the concern is Limited Company then the copy of Memorandum of association and copy of Resolution.
- If the concern is a firm then partnership deed.
- If it has any other constitution then proof of that constitution.
5. Proof of the PAN of the Prop, if the concern is Proprietorship/ Proof of the PAN of the firm if the firm is partnership.
6. Two photographs for VAT and Centre —
- In case of proprietorship Concern – Two Photo of Proprietor.
- In case of Partnership firm :-Two Photo of all the partners,
- In case of Company – Two Photo of managing director
7 Bank account number and name of bank.
8. Two sureties each having TIN and owning property or bank guarantee of Rs. 100000 (50000 for tax under PVAT Act and Rs 50000 for tax under CST Act)
9. List of following categories of goods:-
- Goods to be traded.
- Goods to be manufactured.
- Goods to be purchased for use in manufacture.
Every Photostat copy should be attested to be a true copy by the proprietor./ partner/director as the case may be.
Author:- Amit Bajaj Advocate, Jalandhar/ Email: amitbajajadvocate@hotmail.com/ Cell No +919815243335
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