Hello everyone,
I have a few queries regarding CST and VAT registration. I would really appreciate it, if someone who is experienced would answer these queries.
1. Is it required to have CST/VAT registration if I am selling used items, such as old tape recorders, cd players etc?
2. I believe you need to have a CST/VAT registration for retail selling on ebay. Is this true?
3. I have checked around with some friends who are business men, and had informed me that the cost of registration for CST + VAT is Rs.30,000/- for partnership firm, which includes Rs.25,000/- as deposit, and Rs.20,000/- for sole proprietors, which include Rs.15,000/- as deposit. (The deposits are refundable upon de-registration). Is this accurate?
4. Another information I received regarding requirements to apply for VAT/CST is that, you need to have a business 'premise'. I do not know how exactly they define 'premise'. Can someone explain? Is the requirement of a premise applicable for e-commerce oriented businesses too?
Would appreciate an input from the pinks too, if you aren't too busy.
Thank you so much for your time and your answers.