Dear Expert,
I would like to discuss on a issue where a company has two registration number under VAT. This could have happened so during the transition phase from erstwhile Sales Tax regime to VAT regime. This could be a fault on assessee part or a fault of department. What is the consequences to the company having two VAT TIN in a State.
Company Faces Penalties for Holding Two VAT TINs; Urged to Consult VAT Commissioner for Compliance A company has inadvertently obtained two VAT Tax Identification Numbers (TINs) within a single state, possibly due to the transition from the Sales Tax to VAT regime. This situation may result in penalties if not disclosed to the authorities, as only one TIN is allowed per dealer. The company uses separate TINs for its two businesses, raising concerns about stock transfers between them. It is advised to consult with the jurisdictional VAT commissioner to resolve the issue and ensure compliance. The discussion highlights the importance of addressing such discrepancies early to avoid legal complications. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
