Value Added Tax or VAT is such an indirect tax that is paid by the consumer through a registered person. Value Added Tax or VAT on a particular good or service is determined on the basis of adding an actual level of value of the said goods or service adjusting input tax payable against the supplied goods or service.
Under the Value Added Tax procedure, any importer, exporter or taxable supplier has to be involved in the VAT Procedure. This involvement takes place with the VAT procedure through registration or enlistment. He has to abide by the VAT law through taking Business Identification Number in the prescribed manner under the purview of the VAT law. And under the purview of the VAT law, taking a Business Identification Number in the prescribed manner is called registration or enlistment.
When shall I have to take BIN Registration or Enlistment?
According to the Value Added Tax and Supplementary Duty Act 2012, VAT registration of all business entities has been made compulsor
‘MS Associates’ is always there to give you legal help or advice. So, contact us