A value added tax or value-added tax (DVAT) is a form of consumption tax. From the perspective of the buyer, it is a tax on the purchase price. From that of the seller, it is
a tax only on the "value added" to a product, material or service, from an accounting point of view, by this stage of its manufacture or distribution. The manufacturer remits
to the government the difference between these two amounts, and retains the rest for themselves to offset the taxes they had previously paid on the inputs.
The "value added" to a product by a business is the sale price charged to its customer, minus the cost of materials and other taxable inputs. A DVAT is like a sales tax in
that ultimately only the end consumer is taxed. It differs from the sales tax in that, with the latter, the tax is collected and remitted to the government only once, at the
point of purchase by the end consumer. With the DVAT, collections, remittances to the government, and credits for taxes already paid occur each time a business in the supply chain purchases products.
Required Document for Vat Registration
1 8 Photo (Each Partner, Director Or Prop)
2 Election Card
3 Pan Card
4 Mart Allotment Letter
5 House Tax Receipt Or Electric Bill (Residence) Each
6 Passport Each Directors or Partners
7 Memorandum of Articles
8 Bank A/C + DVat Registration R.C. Other State.
a tax only on the "value added" to a product, material or service, from an accounting point of view, by this stage of its manufacture or distribution. The manufacturer remits
to the government the difference between these two amounts, and retains the rest for themselves to offset the taxes they had previously paid on the inputs.
The "value added" to a product by a business is the sale price charged to its customer, minus the cost of materials and other taxable inputs. A DVAT is like a sales tax in
that ultimately only the end consumer is taxed. It differs from the sales tax in that, with the latter, the tax is collected and remitted to the government only once, at the
point of purchase by the end consumer. With the DVAT, collections, remittances to the government, and credits for taxes already paid occur each time a business in the supply chain purchases products.
Required Document for Vat Registration
1 8 Photo (Each Partner, Director Or Prop)
2 Election Card
3 Pan Card
4 Mart Allotment Letter
5 House Tax Receipt Or Electric Bill (Residence) Each
6 Passport Each Directors or Partners
7 Memorandum of Articles
8 Bank A/C + DVat Registration R.C. Other State.
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