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Value Added Tax (VAT)
VAT on petroleum products is a state-level tax, allowing each state to determine its own VAT rates. This autonomy enables states to regulate taxation and pricing based on regional economic needs. Given the essential nature of petrol and diesel, state governments often impose higher VAT rates on these products compared to other goods, leading to increased retail prices.
One of the key reasons petroleum products remain outside the GST framework is their substantial revenue contribution to both central and state governments. Additionally, the complexities involved in seamlessly integrating fuel taxation into the GST system have led to their continued taxation under VAT.
VAT Registration & Compliance Services
- Under the VAT Act, any dealer whose total turnover of sales or purchases exceeds ₹5 lakhs and whose taxable turnover surpasses ₹10,000 during a financial year is required to register for VAT and pay Value Added Tax. (For Gujarat VAT; other states may have different criteria for compulsory registration.)
Our VAT Registration Services:
We provide end-to-end assistance in obtaining VAT registration, ensuring a smooth and hassle-free process:
- Document Preparation & Filing – We assist in compiling and submitting the required documents for VAT registration.
- Seamless Registration Process – Our experts guide you through every step to ensure compliance.
- Corrections & Amendments – We help update incorrect details in your VAT registration certificate.
- Temporary User ID Assistance – We assist unregistered businesses in obtaining temporary VAT credentials.
- State-Specific VAT Compliance – We ensure adherence to VAT regulations based on your state’s specific requirements.
Why Choose filing365?
- Comprehensive VAT Knowledge – Our experts are well-versed in international and local VAT laws, ensuring complete accuracy.
- End-to-End Support – From initial VAT registration to ongoing compliance, we manage the entire process.
- Minimize Risk & Penalties – Stay ahead of deadlines and avoid errors that could lead to fines or legal issues.
- Tailored Compliance Solutions – We adapt VAT strategies to your business model and industry.
- Timely Filings & Reporting – Never miss a deadline with our proactive compliance team.