SIR,
MY FRIEND IS GOING TO OPEN PETROL BUNK SHORTLY. AT CHENNAI THEY INSISTED TIN NO. WHEN APPLY FOR TIN NO. WITH SLAES TAX OFFICE IT IS COMING UNDER WHAT CATEGORY? RETAIL SALES?
WHETHER I NEED TO FILE VAT RETURN EVERY MONTH? WHICH FORM I HAVE TO SUBMIT VAT RETURN? WHAT IS THE PROCEDURE FOR RETURN FILING FOR PETROL BUNKS?
EXPECTING YOUR VALUBLE REPLY SIRS
Understanding Tax Requirements for Petrol Bunk: VAT/CST Registration, Exemptions for Fuel, and Filing Monthly Returns A forum participant inquired about the tax requirements for opening a petrol bunk in Chennai, specifically regarding the necessity of a TIN and the filing of VAT returns. One respondent clarified that VAT and CST returns are not required under the VAT Act, referencing a different act from 1994. Another respondent advised registering for VAT/CST, noting that while petrol and diesel sales are exempt, lubricant sales are taxable. They recommended filing a monthly return, claiming exemptions for petrol and diesel, and paying VAT on lubricants. (AI Summary)
TaxTMI 
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TaxTMI 
