Unregistered Dealer Delhi VAT Documentation

[V K]

Dear Experts

Kindly give your expert advice on the following queries related to Unregistered Dealer under DVAT.

( below the Taxable Limit of 20 lakh)

1) Bill / Cash memo issued by unregistered dealer should have to mention it on Bill that he is Unregistered dealer under the limit of taxable turnover.

2) can he sale all the goods or only Tax Free Goods?? . he has purchased both types of goods from Unregistered dealers , as well as from Registered dealers by paying tax.

3) any type of Documentation to be submitted to Sales tax Dept.??

4) Accounts / records to be maintained for Sales TAx / Income tax.

5) can he claim the Exp of business in Income tax, as per Regular registered Proprietorship firms?

6) is he has to appoint any CA for any mandatory Reports, which can be signed only by CA.

Awaiting for your expert advice.

Regards.. Vikas Kapoor

 

 

AI Summary

Unregistered dealer disclosure: invoices must state below threshold status and certified financials support VAT and tax compliance.
Unregistered dealers must state on each invoice that they have not crossed the statutory threshold. They may sell both taxable and tax free goods, while exclusive dealings in tax free goods exempt registration even if thresholds are crossed. Dealers should maintain and submit financials and bank statements to the VAT department, and financials certified by a Chartered Accountant are acceptable. For income tax, business expenses may be claimed as for a regular proprietorship, and engaging a Chartered Accountant is advisable for certified reports and compliance guidance.