Know About TurnOverTax
A Turnover Tax is similar to a sales tax or a VAT, with the
difference is that it takes inermediate and possibly capital goods.It is an indirect tax,tipically on an ad valorem basis, applicable to a production process or stage.For example manufacturing activity is completed, a tax may be charged on some companies.sales tax occurs when merchandise has been sold.
A different meaning of Turn Over Tax, the Turn Over Tax is a sales tax used in planned economies to fund the jurisdiction and control demand for some product.The central authority in a command economy leaves the supplier a profit deemed to be fair, and takes the rest as Turn Over Tax (i.e money turned over to the government .) If the cost of production exceeds the market price, (a nagative Trnover Tax subsidy) may be used.
Required Documents:
- PAN xerox copy
- Address Proof
- Registered Rental Agreement (In case owned NOC from the owner)
- Electricity Bill Receipt (original)
- Bank Pass Book / Latest Bank Statement(6 Months)
- 3 Colour Photographs
- Dealership Agreement (In case of Dealer) (optional)
- Distributor Agreement (In case of Disributor)(optional)
