Gujarat traders asked to comply with VAT regime
Gujarat traders asked to comply with VAT regime
Ahmedabad: As Gujarat prepares to implement the value-added tax (VAT) regime from next month, state Finance Minister Saurabh Patel Tuesday asked traders to get a tax identification number (TIN).
Setting the stage for VAT, Patel asked traders registered under the Sales Tax Act, 1969 to soon get their 11-code TIN or face cancellation of their registration, said an official statement.
According to government estimates, of the state’s 340,000 registered traders, some 294,000 or nearly 85 percent have obtained the TIN.
Those who have not applied for TIN have been issued a notice to get it soon, said Patel.
“Around 35,000 traders are still to obtain their TIN. Earlier we cancelled registrations of 4,000 traders as they failed to respond to the notice,” he said.
More: newkerala.com