Advocate M. Sameer Husaain has bachelor degree of commerce (B.Com) and master of Commerce (M.Com) de... Read More
Exemption to VAT
What Is Not Covered By Vat?
- Sector-1, Noida
VAT will not cover small business with a turnover below a certain limit. In Orissa, a general trader having annual turnover of Rs.2, 00,000/- or more will be covered under VAT. The dealer, who purchases goods from outside the State for resale inside the State, or sells to outside the State, is liable to pay tax on his first transaction. The taxable limit for works contractor is Rs.50, 000/- and for manufacturer is Rs.1, 00,000/-.
Answered on 28 Sep 2018
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