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TMI BlogMy Student got Export Order But....X X X X Extracts X X X X X X X X Extracts X X X X ..... My student got Export Order of Java Peanuts but buyer asked to do Pre-shipment inspection of goods. All company is asking for a purchase bill. Now 5% VAT has to be paid to mfg unit if purchased against bill. My student (Exporter) does not have reg. in VAT department as it is too costly in Gujarat (need to pay 25,000 adv. Tax), so how can he avoid VAT in legal sense ? How can he export goods tax fr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee earn reasonable profit. He is earning total 9.5% profit in this deal. If he pays VAT (which he should not pay as it is exports) he will get -5% = 4.5% profit. Please help us to save a deal. - Reply By Ganeshan Kalyani - The Reply = VAT can be saved only by being a registered dealer under VAT. Thanks. - Reply By Kishan Barai - The Reply = Thank you sir for your kind reply. - Reply B ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y Ganeshan Kalyani - The Reply = Sir, only voluntary registration requires deposit of the amount mentioned in your query. And if the taxable value of the goods is above ₹ 10,000/- and aggregate turnover is above five lacs then registration is required to be sought without any deposit. Hence you may check the value of the goods and according may conclude. Thanks. - Reply By Kishan Barai - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The Reply = Thanks a lot Ganeshan Kalyani Sir for your reply but I need to clarify 2 things 1. My student does not have turnover of 5 lakh or more, so his case is not applicable for mandatory registration. 2. I did not got your point only voluntary registration requires deposit of the amount mentioned in your query Thanks a lot for your kind support. - Reply By Ganeshan Kalyani - The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Reply = Sir if a dealer wish to get registration under GVAT voluntarily then a deposit of ₹ 25K is required to paid, otherwise not. This implies that if a dealer has crossed the threshold limit of registration and as a result is anyway now required to get registered in order to collect and deposit the tax into Gvt. treasury then the said security deposit is not required. This is astonishi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng to learn that why a dealer is required to deposit a security amount for voluntarily registration. But this is what law says. - Reply By Kishan Barai - The Reply = Thank You Ganeshan Kalyani Sir - Reply By Rizwan Ullah - The Reply = As far as my understanding on the subject, Mr. Zia Ullah , u r a manufacturer exporter and not a merchant exporter, in that case u need to get yourself register ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed with the Department. - My Student got Export Order But.... - Query Started By: - Kishan Barai Dated:- 11-4-2016 Customs - Import - Export - Customs - SEZ - Got 7 Replies - Customs - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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