Commercial Tax Telangana
Since its inception, Telangana commercial tax department is following value added tax. Value added tax is levied on the interstate sale of services and goods. This post provides you all information on Telangana VAT forms, VAT registration, and rates. The VAT is levied at the standard rate of 14%. However, as per the schedules of the goods, lower rates, special rates, and zero rates are also applicable. The official website of the Telangana commercial tax department is offering a host of online facilities related to the taxes. The department administers all the taxes. These include VAT, CST, TOT, Professional Tax, Luxury Tax, Entry Tax, and Entertainment tax.
Telangana VAT registration is compulsory for the dealers who are eligible to pay VAT. The advantage of the TG VAT registration is that the dealer can also get input tax credit. Users will also get information on VAT registration, eWaybill and VAT returns filing procedures. Most of the procedures are now carried out online at the tgct.gov.in. Dealers from Andhra Pradesh may refer to our separate post on AP commercial tax. It carries similar information on the Andhra Pradesh value added tax.
Telangana VAT Registration
Telangana commercial tax department is facilitating dealers and manufacturers to register for VAT online. Follow the below procedure to get Telangana VAT registration.
- Apply for Telangana VAT registration online from 1st of June 2016. Applicants may use the main CTD or TS I pass portal.
- All the required documents should be scanned and uploaded during the online registration process. The RNR will be generated at the time of applying for registration.
- The authority will examine the application and supportive documents.
- The authorities will also verify your PAN and aadhar card.
- The Telangana commercial tax department will approve the application in 1-2 working days.
- In the case of any discrepancy and rejections, the applicant can reply to the authorities within 7 days.
- Check the status of your registration application online. Select the type of registration you have applied for and enter the RNR number. This will show you the status of your application for VAT registration. The same can be used to check the status of registration for entertainment tax, professional tax or luxury tax.
After approval of the registration, the TIN will be generated. The Telangana commercial tax department will intimate your TIN by e-mail. The registration certificate will be uploaded to your login account at the official portal. Any TIN can be verified using the ‘Verify TIN’ option.
Telangana Commercial Tax e-Payment
Telangana VAT payments and returns are to be done by 20th of each month. The delays might incur penalties and interest. In the case of no transaction, firms or persons should file a NIL return. For online Telangana commercial tax payment, use the given link.
Enter your TIN number or GRN number. Select the tax as VAT and fill up all other details including the period and date. E-payment is enabled only through the selected banks only. You will find the list of the banks on the same page.
Telangana VAT Rates
The goods and services are taxed for VAT as per their category. Goods are categorized into main five categories for implication of VAT
- Goods taxable at the standard rate of 14.5% (Schedule V)
- Goods taxable at 5%
- Goods taxable at 1%
- Zero-rated transactions and dealers eligible for input tax credit
- Goods exempted from VAT under Section 7
All agro products and equipment supplied for farming are exempted from VAT. The exporters also get full input tax credit for the exported goods. Goods sold to EOU, SEZ, STP are also exempted from this tax.
All the forms related to the taxation are available for downloading at tgct.gov.in. You may regularly require some forms related to VAT to file monthly returns, registration etc. The below link will give you an access to the list of all the forms. The list clearly indicates the purpose and the form number. Just give a single click on the form you want to download.
A host of other facilities like verifying and generating e-waybills are also available at the Telangana commercial tax site. The dealers are saving a lot of time and efforts with the online facilities. More and more procedures related to tax are being digitalised. Besides giving convenience, this also increases the transparency and curb tax evasions. Myincometaxrefund.in is a blog dedicated to update users with the tax related procedures and rules. Find and share useful information on payment of TDS, income tax, and advance tax payment too.